NewzIntel.com

Category: Asia Pacific

  • MIL-OSI New Zealand: Mariameno Kapa-Kingi Enters Members Bill to Establish Mokopuna Māori Authority

    Source: Te Pati Maori

    Today Te Pāti Māori MP for Te Tai Tokerau, Mariameno Kapa-Kingi, released her members bill that will see the return of tamariki and mokopuna Māori from state care back to te iwi Māori. This bill will establish an independent authority that asserts and protects the rights promised in He Whakaputanga and Te Tiriti o Waitangi.

    “This authority will be the primary national agency that ensures the care and protection for mokopuna and tamariki Māori, prioritising whakapapa because whānau know what is best for their own mokopuna, not the state,” said Te Pāti Māori Spokesperson for Children, Mariameno Kapa-Kingi.

    “Dame Whina Cooper once said, “Take care of our children. Take care of what they hear, take care of what they feel. For how the children grow, so will be the shape of Aotearoa”. This drives the ethos behind the authority- Hokinga Whakapapa, Oranga Mokopuna.

    “This bill honours the whakapapa-based rights and obligations of whānau, hapū, and iwi establishing a partnership network across these streams and Māori organisations including urban Māori organisations and with survivors of state care.

    “No child can thrive when they’re just trying to survive, and our children deserve to know where and who they truly come from. With this independent authority our mokopuna shall no longer be ostracised from society or from their own.

    “Mokopuna Māori are our lifeline, they hold the key for our future as tangata whenua. Their return to us will be a major catalyst for their ability to thrive as their whakapapa intended.

    “This is the time to do something of substance with and for our people. It is our job to serve and do what is best by our mokopuna and tamariki. We Māori are the sole carers of this responsibility and so shall it remain with us,” concluded Kapa-Kingi.

    MIL OSI New Zealand News –

  • MIL-OSI: b1BANK Announces Senna Bayasgalan as Chief Marketing Officer

    Source: GlobeNewswire (MIL-OSI)

    BATON ROUGE, La., Feb. 13, 2025 (GLOBE NEWSWIRE) — b1BANK, announces the appointment of Senna Bayasgalan as chief marketing officer. Bayasgalan will lead brand and marketing technology initiatives to support the banks’ growth and deepen client relationships. Bayasgalan has over 16 years of experience in marketing leadership, international brand building, communications and customer acquisition across private capital, technology and media industries. 

    “We are diligent about the culture we are building, and as a result, fortunate to be able to attract top talent from across the nation,” said Jude Melville, chairman and CEO, b1BANK. “We have a good and genuine story, and with more effective use of technology-enabled branding and distribution tools, I am confident that story has the potential to resonate deeply with a larger audience. Senna’s diverse experience leading marketing campaigns across multiple lines of business will accelerate our continued evolution.” 

    Throughout her career she has skillfully combined data and storytelling to launch international campaigns, build online communities and develop customer retention strategies to grow the brands she has served.  

    “I was instantly drawn to b1BANK’s unique story and its unwavering commitment to serving businesses and local communities,” said Bayasgalan. “I am excited to partner with the talented team at b1 to elevate the brand, foster innovation and help our clients achieve their goals.” 

    Bayasgalan is a founding board member of Asians in Advertising, a mentor for APIA Scholars, Women We Create and 3AF, and a frequent guest lecturer at Georgetown University and other institutions. She earned a Bachelor of Liberal Arts from the University of Texas at Austin. 

    About Business First Bancshares, Inc. 
    As of Dec. 31, 2024, Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK, had $7.9 billion in assets, $6.9 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (excludes $0.9 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and Texas providing commercial and personal banking products and services. Commercial banking services include commercial loans and letters of credit, working capital lines and equipment financing, and treasury management services. b1BANK was awarded #1 Best-In-State Bank, Louisiana, by Forbes and Statista, and is a multiyear winner of American Banker’s “Best Banks to Work For.” Visit b1BANK.com for more information. 

    Misty Albrecht
    b1BANK
    225.286.7879
    Misty.Albrecht@b1BANK.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/82d7ef43-d21e-464d-9b89-7653e36ab81c

    The MIL Network –

  • MIL-Evening Report: NZ depends on the rules-based world Trump is dismantling – why the silence?

    Source: The Conversation (Au and NZ) – By Alexander Gillespie, Professor of Law, University of Waikato

    The Ministry of Foreign Affairs’ 2023 strategic foreign policy assessment, “Navigating a shifting world”, accurately foresaw a more uncertain and complex time ahead for New Zealand. But already it feels out of date.

    The Trump administration’s extreme disruption of the international order (which New Zealand helped construct) is going further and faster than foreseen in the assessment. Were another nation responsible, the government would have been quick to condemn it.

    But New Zealand has so far been largely mute while Trump has quit the World Health Organization and the Paris Climate Accord, attacked foreign assistance programs and withdrawn funding from key United Nations organisations.

    Had Russia or China threatened the annexation or acquisition of Canada, Panama and Greenland, New Zealand would have reacted strongly. But it has said nothing substantive.

    The United States still belongs to the World Trade Organization and various regional trade agreements. But Trump’s use of tariffs threatens havoc throughout the multilateral trade system.

    Similarly, Trump has not quit the International Court of Justice. But his proposal to remove two million Palestinians from Gaza amounts to an unequivocal rejection of the court’s recent ruling on Israeli policies and practices in the Occupied Territories – as well as international law.

    On all these fronts, New Zealand has preferred not to make a stand.

    The coming Russia-Ukraine test

    While other countries have been quick to criticise Trump’s Gaza plan, New Zealand has opted not to comment until greater clarity is available, other than to reiterate its support for a two-state solution for Palestine.

    When Trump imposed sanctions on the International Criminal Court, New Zealand (along with Australia and Japan) failed to join a statement from 79 other countries expressing unwavering support for the court.

    The next likely test will be Trump’s attempt to broker a peace deal between Russia and Ukraine. While the goal is undoubtedly worthy, the question will be at what cost.

    If the price is ignoring the UN Charter, and if European supporters of Ukraine find the illegal annexations of its sovereign territory unpalatable, New Zealand will face a stark choice.

    For Australia, with its special trade relationship with the US and membership of the AUKUS security pact, this may be simple politics. For New Zealand, without a special free trade agreement with the US, frozen out of ANZUS and not part of AUKUS, the equation is more complex.

    Discord in the Pacific

    Last year, Prime Minister Christopher Luxon said New Zealand must “stand up for this international rules-based system that has actually served New Zealand incredibly well”. Quietly sitting down will not be an option forever.

    Furthermore, all this is happening against the backdrop of New Zealand’s apparently waning influence in its own back yard, the South Pacific.

    While China seeks to expand its own influence, cuts and possible retrenchment in New Zealand’s aid budget suggest little appetite for tangible counteraction.

    The loss of influence was first apparent with Kiribati, which has steered towards a much closer relationship with China since 2022. More recently, China has made inroads into other Pacific countries, including the Solomons and East Timor, working in an increasingly grey zone with support for civilian and military security.

    But the recent fracture with the Cook Islands takes things to a new level.

    Struggling to find a voice

    While no longer a dependency, the Cooks’ free association agreement with New Zealand gives its people immense benefits, including citizenship and the right to work and live in New Zealand.

    In return, the Cooks undertakes to consult over foreign affairs matters, including any policy or initiative that might affect the interests of the other signatory.

    But the development of a somewhat opaque “comprehensive strategic partnership” with China blindsided New Zealand, and has strained what is meant to be a good-faith relationship. Again, however, New Zealand has struggled to find its voice.

    If it speaks too loudly, it risks further undermining that special Pacific relationship, as well as irritating its largest trade partner, China. If it speaks too softly, the respect and influence the country deserves will fade.

    New Zealand’s vaunted independent foreign policy is a fine ideal and has been a workable mechanism to navigate the challenges facing a small trading nation reliant on a rules-based global order.

    This has worked well for the past few decades. But as the old world order erodes, losing its voice for fear of offending bigger powers cannot become the country’s default position.

    Alexander Gillespie does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. NZ depends on the rules-based world Trump is dismantling – why the silence? – https://theconversation.com/nz-depends-on-the-rules-based-world-trump-is-dismantling-why-the-silence-249857

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Nations: Second World Summit in Doha Must Advance Humanity’s Fight against Structural Inequalities, Speakers Tell Commission for Social Development

    Source: United Nations 4

    At one of two panel discussions held today by the Commission for Social Development, speakers stressed that the Second World Summit for Social Development must advance humanity’s fight against structural inequalities by promoting quality employment for young people, closing digital divides, addressing the challenges of ageing populations and tackling the climate crisis.

    The Commission — established in 1946 by the Economic and Social Council as one of its functional commissions — advises the United Nations on social development issues, and its sixty-third session will run through 14 February.

    The first panel discussion, titled “Preparations for the World Social Summit under the title of the Second World Summit for Social Development”, focused on the specific needs of various regions ahead of the meeting to take place in November in Doha.  Panellists provided updates collected via various regional consultations and underscored the global summit’s unique opportunity to reset global priorities and build a more sustainable future for all.

    Navid Hanif, Assistant Secretary-General for Economic Development, Department of Economic and Social Affairs, moderated the panel.  “The state of play looks good, but then I ask myself if I were to describe it in two words I would say, not good,” he emphasized.  Around 300 million people will still be living in poverty by 2030 if the world continues the same trajectory.

    “Unless we act with foresight, the gaps we seek to close will only deepen,” said Rola Dashti, Executive Secretary, United Nations Economic and Social Commission for Western Asia (ESCWA).  For the Arab region, social development cannot succeed unless conflict and displacement are addressed.  “Social policies must be designed for resilience,” she went on to stress.  The Arab region also faces a growing divide between the skills needed for emerging industries and those currently being developed through the education system.  The Summit in Doha must ensure employment policies are fit for the future.  The political declaration to come out of that meeting must promote policies that enable all generations to contribute meaningfully to economic and social progress.  The digital divide in the Arab region remains significant, she also underscored, noting the gap between men and women, and urban and rural communities.

    Laura Thompson, Assistant Director-General for External and Corporate Relations, International Labour Organization (ILO), said that the opportunity to renew the global social contract should be an invitation to all Member States to uphold social justice principles.  “Technological innovations create both challenges and opportunities, and monitoring their impact and optimizing their potential for decent work creation is critical,” she added.  One in five young persons in the world is neither in employment, education or training.  The rate is almost 26 per cent for young women.  “This is a personal drama for the young person concerned, but also a waste of assets for national development plans,” she added.

    Magdalena Sepúlveda Carmona, Director, United Nations Research Institute for Social Development (UNRISD), said that environmental degradation, including climate change and biodiversity loss, is widely recognized as a cross-cutting issue affecting livelihoods, health and equity.  More specifically in Africa, formality, lack of social protection and labour rights, youth unemployment, gender inequality and climate change are all considered to be major challenges.  Meanwhile, Asia faces significant structural challenges, including a digital device, ageing population and climate related risk.  For Latin America and the Caribbean region, structural inequalities, backlash against progressive policies, weakened democratic governance and climate change risk are challenges most identified.  The political declaration must mobilize resources towards achieving universal rights to ensure access to adequate income and social assistance.

    Srinivas Tata, Director of the Social Development Division of Economic and Social Commission for Asia and the Pacific (ESCAP), said that the region is undergoing an unprecedented demographic transition.  The number of older persons — 65 years or above — is expected to nearly double from 500 million in 2024 to almost 1 billion in 2050.  “Yet, there are many countries in the region which are still having a youth bulge, and so we also need to pay specific attention to the needs of the youth,” he added.  It is estimated that 42 million people in the region were pushed into extreme poverty in 2020 compared with pre-pandemic levels.  “We really suffered during the COVID-19 pandemic,” he added, expressing alarm that in many countries in the Asia region fewer than 50 per cent of the population are covered by any form of social protection.

    Rodrigo Martinez, Senior Social Affairs Officer, Economic Commission for Latin America and the Caribbean (ECLAC), said that all people must achieve a life free of poverty and have access to economic growth and freedom and dignity.  Every person must be able to fully exercise their economic, social and cultural rights.  “Poverty and hunger are two persistent but surmountable scourges,” he added.  “Inequality, in its multiple dimensions, represents a trap for development,” he also emphasised.  People must be able to access the labour market, decent working conditions, education and healthcare.  On urbanization, he urged Governments to also expand access to energy, water and sanitation.

    In the afternoon, the Commission held a multi-stakeholder forum on achieving the Sustainable Development Goals (SDGs) through the “social and solidarity economy”, which encompasses a wide range of organizations, including cooperatives, mutual societies, associations, foundations and social enterprises, that prioritize people and communities over profit.

    Moderating the discussion was Konstantinos Papadakis, Principal Social Affairs Officer at the United Nations Department of Economic and Social Affairs, who recalled the General Assembly resolutions on cooperatives and the social and solidarity economy in 2022 and 2023, respectively.  He also noted that 2025 marks the International Year of Cooperatives, observed under the theme “Cooperatives Build a Better World”.  He then introduced three panellists, who shared their experiences and actions taking place in their countries.

    Carlos Jorge Paris Ferraro, Vice-Minister for Social Policies at the Ministry of Social Development of Paraguay, said that while the social economy was not a public policy in his country until 2024, such an idea has historically existed in indigenous communities whose economies are marked by reciprocity.  They were able to create a self-sufficient solidarity economy during the colonial period.  Currently, peasant organizations and family agriculture include this culture of solidarity and reciprocity.  In Paraguay, the social and solidarity economy accounts for 12 per cent of the gross domestic product (GDP), with cooperatives producing 72 per cent of dairy products and 24 per cent of meat for export.  About 500,000 small- and medium-size enterprises are members of cooperatives.  In a country with only 6 million people, “the cooperative sector is gigantic and is growing”, he said.  He then detailed several national initiatives, such as cash transfers to preserve forests or to plant trees that benefited 268 families.  To promote this growth model, the Government created the Department for the Social and Solidarity Economy within the Ministry of Social Development.

    Ankhbayar Nyamdorj, Permanent Representative of Mongolia to the United Nations, said that his country in April 2024 launched the “New Cooperative” programme under its “New Recovery Policy” to enhance agriculture, particularly risk-resistant livestock husbandry through cooperatives.  The programme aims to stabilize herders’ income, improve social security and boost the livestock sector’s climate resilience.  By the end of 2024, it had reached 16,009, or 6.4 per cent, of Mongolia’s 247,900 herder families.  Government efforts include establishing a National Committee led by the Deputy Prime Minister, granting $200 million in investment loans, and subsidizing $9.27 million in interest.  Loans support breeding animal purchases, facility expansion and dairy/meat production.  Training programmes engaged 1,500 cooperative members, while forums promoted development strategies.  Public outreach reached 1 million citizens.  Future plans include model cooperatives, national insurance integration and food safety standards.  Challenges include strengthening the “social and solidarity economy” capacities, enhancing research and fostering public-private partnerships.  Mongolia also shared experiences internationally, such as at the Global Cooperative Conference in India, he added.

    Maxime Baduel, Ministerial Delegate for the Social and Solidarity Economy at the Ministry of the Economy, Finance and Industrial and Digital Sovereignty of France, said that the social and solidarity economy is imbued with equality, justice and cooperation. In his country, it represents 10 per cent of GDP.  “The strength of this French ecosystem also lies in its legislative framework,” he said, noting how laws are designed to encourage organizations like cooperatives. Developing the social and solidarity economy is “a strong lever” to meet the SDGs, and it should be encouraged by the Commission.  In conclusion, he stressed the importance of establishing a legislative regulatory framework to “give a structure to this ecosystem”, as well as the need to ensure that they are resourced financially and capacity-building instruments are in place. It is also vital to promote these structures with financial institutions and create public policies in line with the social and solidarity economy, he emphasized.

    MIL OSI United Nations News –

  • MIL-OSI New Zealand: Manufacturing increase welcomed

    Source: New Zealand Government

    Economic Growth Minister Nicola Willis has welcomed a lift in manufacturing activity, saying it is further evidence that the economy has started to turn around. 
    The BNZ and Business NZ today reported their performance manufacturing index (PMI) had risen to its highest level since September 2022.
    “The increase from 46.2 in December to 51.4 in January follows 22 months of contraction.
    “It is early days, but together with high levels of business confidence, the increase indicates the economic growth forecast for this year is beginning to take place.
    “I know many families and businesses are still doing it tough after three years of high inflation, high interest rates and cost of living pressures squeezing the family budget and business bottom lines. 
    “However, this suggests families and business can look forward to better times ahead. It is particularly welcome news for the manufacturing sector after two very tough years. And that is good news for everybody.
    “When the sector does well it creates jobs and opportunities for people.”

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Two teens arrested over attempted robbery of pizza delivery driver

    Source: South Australia Police

    Two teenagers were arrested yesterday in connection with the attempted robbery of a pizza delivery driver at Port Augusta earlier this week.

    Just before 6pm on Sunday 9 February, police were called to Hicks Street, Port Augusta after a pizza delivery driver was allegedly approached and assaulted by two males who demanded money.

    Fortunately, the victim was not seriously injured.

    Following investigations, on Thursday 13 February, Far North CIB detectives and Port Augusta Police attended two addresses in Port Augusta and arrested two teens.

    A 16-year-old boy and a 15-year-old boy were charged with attempted aggravated robbery and breach of bail.

    They were refused police bail and appeared in the Port Augusta Youth Court yesterday, where they were remanded in custody to reappear in the youth court on 25 February.

    CO2500006425

    MIL OSI News –

  • MIL-OSI: Fairfax India Holdings Corporation: Financial Results for the Year Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

    (Note: All dollar amounts in this press release are expressed in U.S. dollars except as otherwise noted. The financial results are derived from unaudited financial statements prepared using the recognition and measurement requirements of International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS®Accounting Standards”), except as otherwise noted. This press release contains certain non-GAAP and other financial measures, including book value per share and cash and marketable securities, that do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar financial measures presented by other issuers. See “Glossary of non-GAAP and other financial measures” at the end of this press release for further details.)

    TORONTO, Feb. 13, 2025 (GLOBE NEWSWIRE) — Fairfax India Holdings Corporation (TSX: FIH.U) announces fiscal year 2024 net losses of $41.2 million ($0.30 net loss per diluted share), compared to net earnings of $371.8 million in fiscal year 2023 ($2.72 net earnings per diluted share). At December 31, 2024 the company’s book value per share decreased 4.1% to $20.96 from $21.85 at December 31, 2023 primarily due to unrealized foreign currency translation losses as the U.S. dollar strengthened against the Indian rupee.

    Highlights for 2024 included the following:

    • Net realized gains on investments of $218.9 million primarily related to realized gains on sales of NSE ($167.3 million) and partial sales of CSB Bank ($43.0 million).
    • Excluding reversals of prior period unrealized gains primarily related to the sales of NSE ($167.2 million) and CSB Bank ($56.3 million), the company recorded a net change in unrealized gains on investments of $55.1 million, principally from increases in the fair values of the company’s listed investment in IIFL Capital (formerly IIFL Securities) ($183.9 million) and private company investments in BIAL ($78.6 million), Maxop ($43.1 million) and Jaynix ($34.5 million), partially offset by decreases in the fair value of the company’s listed investments in IIFL Finance ($124.2 million) and CSB Bank ($62.2 million), and private company investment in Sanmar ($95.1 million).
    • Interest and dividend income of $61.5 million primarily related to dividends received from Seven Islands ($29.9 million) and Saurashtra ($4.4 million), and interest earned on bonds ($16.3 million), primarily Government of India bonds.
    • On October 11, 2024 the company completed its previously announced investment in Global Aluminium Private Limited for a purchase price of $82.7 million (7.0 billion Indian rupees).
    • On December 3, 2024 the company entered into an agreement to acquire an additional 10.0% equity interest in BIAL through its wholly-owned subsidiary for purchase consideration of $255.0 million (to be paid in three installments over 18 months, with the initial installment of $84.2 million to be paid on closing). On January 28, 2025 the company obtained shareholder approval for a one-time deviation from its investment concentration restriction in order to complete the additional BIAL purchase. The transaction is expected to close during the first quarter of 2025.
    • The company continued to buy back shares under its normal course issuer bid and during 2024 purchased for cancellation 559,047 subordinate voting shares at a net cost of $8.4 million ($15.07 per subordinate voting share).

    Fairfax India is in strong financial health, with cash and marketable securities at December 31, 2024 of $214.4 million and an undrawn $175.0 million revolving credit facility.

    FAIRFAX INDIA HOLDINGS CORPORATION
    95 Wellington Street West, Suite 800, Toronto, Ontario, M5J 2N7 Telephone: 416-367-4755

    There were 135.0 million and 135.5 million weighted average common shares outstanding during the fourth quarters of 2024 and 2023, respectively. At December 31, 2024 there were 104,839,462 subordinate voting shares and 30,000,000 multiple voting shares outstanding.

    Unaudited balance sheets, earnings (loss) and comprehensive income (loss) information follow and form part of this press release.

    Fairfax India Holdings Corporation is an investment holding company whose objective is to achieve long term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in India and Indian businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, India.

         
    For further information, contact:   John Varnell, Vice President, Corporate Affairs
        (416) 367-4755
         

    This press release may contain forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements may relate to the company’s or an Indian Investment’s future outlook and anticipated events or results and may include statements regarding the financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, dividends, plans and objectives of the company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities of the company, an Indian Investment, or the Indian market are forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”.

    Forward-looking statements are based on our opinions and estimates as of the date of this press release, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the following factors: oil price risk; geographic concentration of investments; foreign currency fluctuation; volatility of the Indian securities markets; investments may be made in foreign private businesses where information is unreliable or unavailable; valuation methodologies involve subjective judgments; financial market fluctuations; pace of completing investments; minority investments; reliance on key personnel and risks associated with the Investment Advisory Agreement; disruption of the company’s information technology systems; lawsuits; use of leverage; significant ownership by Fairfax may adversely affect the market price of the subordinate voting shares; weather risk; taxation risks; emerging markets; MLI; economic risk; trading price of subordinate voting shares relative to book value per share risk; and economic disruptions from the after-effects of the COVID-19 pandemic and the conflicts in Ukraine and the Middle East. Additional risks and uncertainties are described in the company’s annual information form dated March 8, 2024 which is available on SEDAR+ at www.sedarplus.ca and on the company’s website at www.fairfaxindia.ca. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the company. These factors and assumptions, however, should be considered carefully.

    Although the company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The company does not undertake to update any forward-looking statements contained herein, except as required by applicable securities laws.

       
    Information on 
    CONSOLIDATED BALANCE SHEETS
    as at December 31, 2024 and December 31, 2023
    (unaudited – US$ thousands)
      December 31, 2024 December 31, 2023
    Assets    
    Cash and cash equivalents   59,322   174,615
    Bonds   180,507   63,263
    Common stocks   3,381,206   3,581,043
    Total cash and investments   3,621,035   3,818,921
             
    Interest and dividends receivable   8,849   1,367
    Income taxes refundable   174   220
    Other assets   722   1,027
    Total assets   3,630,780   3,821,535
         
    Liabilities    
    Accounts payable and accrued liabilities   1,300   912
    Accrued interest expense   8,611   8,611
    Income taxes payable   5,379   —
    Payable to related parties   10,099   120,858
    Deferred income taxes   149,780   108,553
    Borrowings   498,349   497,827
    Total liabilities   673,518   736,761
         
    Equity    
    Common shareholders’ equity   2,826,495   2,958,718
    Non-controlling interests   130,767   126,056
    Total equity   2,957,262   3,084,774
        3,630,780   3,821,535
             
    Book value per share $ 20.96 $ 21.85
     
    Information on
    CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)
    for the fourth quarters and years ended December 31, 2024 and 2023 (unaudited – US$ thousands except per share amounts)
                           
      Fourth quarter   Year ended December 31,  
        2024     2023   2024     2023  
    Income                      
    Interest   4,049     3,511   19,504     16,833  
    Dividends   32,769     12,208   41,946     28,831  
    Net realized gains on investments   217     145,758   218,871     193,203  
    Net change in unrealized gains (losses) on investments   (23,929 )   44,581   (167,654 )   361,702  
    Net foreign exchange gains (losses)   (10,282 )   322   (12,616 )   (1,713 )
        2,824     206,380   100,051     598,856  
    Expenses        
    Investment and advisory fees   10,415     10,720   40,405     39,382  
    Performance fee   —     27,849   —     69,385  
    General and administration expenses   1,572     1,884   7,914     12,672  
    Interest expense   6,380     6,380   25,521     25,521  
        18,367     46,833   73,840     146,960  

    Earnings (loss) before income taxes

    		  

    (15,543

    )

    		  

    159,547

    		  

    26,211

    		    

    451,896

    		  
    Provision for income taxes   15,444     22,794   58,948     68,050  
    Net earnings (loss)   (30,987 )   136,753   (32,737 )   383,846  

    Attributable to:

    		        
    Shareholders of Fairfax India   (35,782 )   134,968   (41,173 )   371,770  
    Non-controlling interests   4,795     1,785   8,436     12,076  
        (30,987 )   136,753   (32,737 )   383,846  

    Net earnings (loss) per basic and diluted share

    $

    (0.27

    )

    $

    1.00

    $

    (0.30

    )

    $

    2.72

    		  
    Shares outstanding (weighted average)   134,994,563     135,464,165   135,165,840     136,818,139  
                           
    Information on
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
    for the fourth quarters and years ended December 31, 2024 and 2023 (unaudited – US$ thousands)
             
      Fourth quarter   Year ended December 31,  
      2024   2023   2024   2023  
                     
    Net earnings (loss) (30,987 ) 136,753   (32,737 ) 383,846  
    Other comprehensive loss, net of income taxes                
    Item that may be subsequently reclassified to net earnings (loss)                
    Unrealized foreign currency translation losses, net of income taxes of nil (2023 – nil) (63,961 ) (6,485 ) (85,545 ) (18,614 )
    Comprehensive income (loss) (94,948 ) 130,268   (118,282 ) 365,232  

    Attributable to:

    		                
    Shareholders of Fairfax India (96,918 ) 128,727   (122,993 ) 353,913  
    Non-controlling interests 1,970   1,541   4,711   11,319  
      (94,948 ) 130,268   (118,282 ) 365,232  

    GLOSSARY OF NON-GAAP AND OTHER FINANCIAL MEASURES 
    Management analyzes and assesses the financial position of the consolidated company in various ways. Certain of the measures included in this press release, which have been used consistently and disclosed regularly in the company’s Annual Reports and interim financial reporting, do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other companies. Those measures are described below.

    Book value per share – The company considers book value per share a key performance measure in evaluating its objective of long term capital appreciation, while preserving capital. This measure is also closely monitored as it is used to calculate the performance fee, if any, to Fairfax Financial Holdings. This measure is calculated by the company as common shareholders’ equity divided by the number of common shares outstanding.

    Cash and marketable securities – This measure is calculated by the company as the sum of cash, cash equivalents, short term investments, Government of India bonds and Other Public Indian Investments, in addition to short term receivables from investment custodians relating to dividends received on behalf of the company. The company uses this measure to monitor short term liquidity risk.

    The MIL Network –

  • MIL-OSI: PDF Solutions® Announces Record 2024 Fourth Quarter and Full Year Total Revenues

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) — PDF Solutions, Inc. (Nasdaq: PDFS), a leading provider of comprehensive data solutions for the semiconductor and electronics ecosystem, today announced financial results for its fourth quarter and year ended December 31, 2024.

    Financial Highlights of Fourth Quarter 2024

    • Record quarterly total revenues of $50.1 million, up 22% over last year’s comparable quarter
    • Record quarterly analytics revenue of $47.9 million, up 22% over last year’s comparable quarter
    • GAAP gross margin of 68% and non-GAAP gross margin of 72%
    • GAAP diluted earnings per share (EPS) of $0.01 and non-GAAP diluted EPS of $0.25

    Financial Highlights of Full Year 2024

    • Record full year total revenues of $179.5 million, up 8% over last year
    • Record full year analytics revenue of $169.3 million, up 11% over last year
    • GAAP gross margin of 70% and non-GAAP gross margin of 74%
    • GAAP diluted EPS of $0.10 and non-GAAP diluted EPS of $0.84
    • Backlog of $221.4 million as of December 31, 2024

    Total revenues for the fourth quarter of 2024 were $50.1 million, compared to $46.4 million for the third quarter of 2024 and $41.1 million for the fourth quarter of 2023. Analytics revenue for the fourth quarter of 2024 was $47.9 million, compared to $44.8 million for the third quarter of 2024 and $39.1 million for the fourth quarter of 2023. Integrated Yield Ramp revenue for the fourth quarter of 2024 was $2.2 million, compared to $1.7 million for the third quarter of 2024 and $2.0 million for the fourth quarter of 2023. Total revenues for the full year 2024 and 2023 were $179.5 million and $165.8 million, respectively.

    GAAP gross margin for the fourth quarter of 2024 was 68%, compared to 73% for the third quarter of 2024 and 68% for the fourth quarter of 2023. GAAP gross margin for the full year 2024 and 2023 was 70% and 69%, respectively.

    Non-GAAP gross margin for the fourth quarter of 2024 was 72%, compared to 77% for the third quarter of 2024 and 72% for the fourth quarter of 2023. Non-GAAP gross margin for the full year 2024 and 2023 was 74% and 73%, respectively.

    On a GAAP basis, net income for the fourth quarter of 2024 was $0.5 million, or $0.01 per diluted share, compared to net income of $2.2 million, or $0.06 per diluted share, for the third quarter of 2024, and net income of $0.9 million, or $0.02 per diluted share, for the fourth quarter of 2023. On a GAAP basis, net income for the full year 2024 was $4.1 million, or $0.10 per diluted share, compared to net income of $3.1 million, or $0.08 per diluted share, for the full year 2023.

    Non-GAAP net income for the fourth quarter of 2024 was $9.9 million, or $0.25 per diluted share, compared to non-GAAP net income of $9.9 million, or $0.25 per diluted share, for the third quarter of 2024, and non-GAAP net income of $5.7 million, or $0.15 per diluted share, for the fourth quarter of 2023. Non-GAAP net income for the full year 2024 was $32.6 million, or $0.84 per diluted share, compared to non-GAAP net income of $28.5 million, or $0.73 per diluted share, for the full year 2023.

    Cash, cash equivalents and short-term investments as of December 31, 2024, were $114.9 million.

    Financial Outlook

    “We are pleased with the progress we are making with our customers. During the fourth quarter of 2024, we completed an ongoing manufacturing evaluation of an eProbe machine earlier than the customer’s schedule, resulting in the sale to this new leading edge customer, booked multiple Exensio deals, and saw growth in our Cimetrix connectivity business from runtime licenses. In 2025, we expect our full year revenues to grow at a rate approaching 15% year over year,” said John Kibarian, CEO and President.

    Conference Call

    As previously announced, PDF Solutions will discuss these results on a live conference call beginning at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time today. To participate on the live call, analysts and investors should pre-register at: https://register.vevent.com/register/BI1b05df01d9534a648d4fd2cd753be31c. Registrants will receive dial-in information and a unique passcode to access the call. We encourage participants to dial into the call ten minutes ahead of the scheduled time. The teleconference will also be webcast simultaneously on the Company’s website at https://ir.pdf.com/webcasts. A replay of the conference call webcast will be available after the call on the Company’s investor relations website. A copy of this press release, including the disclosure and reconciliation of certain non-GAAP financial measures to the comparable GAAP measures, which non-GAAP measures may be used periodically by PDF Solutions’ management when discussing financial results with investors and analysts, will also be available on PDF Solutions’ website at http://www.pdf.com/press-releases following the date of this release.

    Fourth Quarter and Full Year 2024 Financial Commentary Available Online

    A Management Report reviewing the Company’s fourth quarter and full year 2024 financial results will be furnished to the Securities and Exchange Commission on Form 8-K and published on the Company’s website at http://ir.pdf.com/financial-reports. Analysts and investors are encouraged to review this commentary prior to participating in the conference call.

    Information Regarding Use of Non-GAAP Financial Measures

    In addition to providing results that are determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”), PDF Solutions also provides certain non-GAAP financial measures. Non-GAAP gross profit and margin exclude stock-based compensation expense and the amortization of acquired technology under costs of revenues. Non-GAAP net income excludes stock-based compensation expense, amortization of acquired technology under costs of revenues, amortization of other acquired intangible assets, and the effects of certain non-recurring items, such as expenses for certain legal proceedings, non-recurring legal, tax and accounting service-related costs, loss on damaged equipment in-transit, net of recovery from previously written-off property and equipment, and their related income tax effects, as applicable, as well as adjustments for the valuation allowance for deferred tax assets and reconciling items. These non-GAAP financial measures are used by management internally to measure the Company’s profitability and performance. PDF Solutions’ management believes that these non-GAAP measures provide useful supplemental information to investors regarding the Company’s ongoing operations in light of the fact that none of these categories of expense and income has a current effect on the future uses of cash (with the exception of expenses related to certain legal proceedings and non-recurring legal, tax and accounting services) nor do they impact the generation of current or future revenues. These non-GAAP results should not be considered an alternative to, or a substitute for, GAAP financial information, and may differ from similarly titled non-GAAP measures used by other companies. In particular, these non-GAAP financial measures are not a substitute for GAAP measures of income or loss as a measure of performance, or to cash flows from operating, investing and financing activities as a measure of liquidity. Since management uses these non-GAAP financial measures internally to measure profitability and performance, PDF Solutions has included these non-GAAP measures to give investors an opportunity to see the Company’s financial results as viewed by management. A reconciliation of the comparable GAAP financial measures to the non-GAAP financial measures is provided at the end of the Company’s condensed consolidated financial statements presented below.

    Forward-Looking Statements

    This press release and the planned conference call include forward-looking statements regarding the Company’s future expected business performance and financial results, including expectations about total revenue growth for 2025 and other statements identified by words such as “could,” “expects,” “intends,” “may,” “plans,” “potential,” “should,” “will,” “would,” or similar expressions and the negatives of those terms, that are subject to future events and circumstances. Other than statements of historical fact, all statements contained in this press release and the planned conference call are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those expressed in these forward-looking statements. Risks and uncertainties that could cause results to differ materially include risks associated with: the effectiveness of the Company’s business and technology strategies; current semiconductor industry trends and competition; rates of adoption of the Company’s solutions by new and existing customers; project milestones or delays and performance criteria achieved; cost and schedule of new product development and investments in research and development; the continuing impact of macroeconomic conditions, including inflation, changing interest rates and tariffs, the evolving trade regulatory environment and geopolitical tensions, and other trends on the semiconductor industry, the Company’s customers, operations, and supply and demand for its products; supply chain disruptions; the success of the Company’s strategic growth opportunities and partnerships; recent and future acquisitions, strategic alliances and relationships and the Company’s ability to successfully integrate acquired businesses and technologies; whether the Company can successfully convert backlog into revenue; customers’ production volumes under contracts that provide Gainshare; the sufficiency of the Company’s cash resources and anticipated funds from operations; the Company’s ability to obtain additional financing if needed and its ability to use support and updates for certain open-source software; and other risks set forth in PDF Solutions’ periodic public filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K and amendments to such reports. The forward-looking statements made in this press release and the conference call are made as of the date hereof, and PDF Solutions does not assume any obligation to update such statements nor the reasons why actual results could differ materially from those projected in such statements. The Company has not filed its Annual Report on Form 10-K for the year ended December 31, 2024. As a result, all financial results described in this earnings release should be considered preliminary, and are subject to change to reflect any necessary adjustments or changes in accounting estimates, that are identified prior to the time the Company files its Annual Report on Form 10-K.

    About PDF Solutions

    PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystem to improve manufacturing yield, product quality and operational efficiency leading to increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor and electronics ecosystem to achieve smart manufacturing goals by connecting and controlling manufacturing equipment, collecting data generated during manufacturing and test operations, and using advanced analytics and machine learning models to enable profitable, high-volume manufacturing.

    Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across North America, Europe, and Asia. The Company (directly or through one or more subsidiaries) is an active member of SEMI, INEMI, TPCA, IPC, the OPC Foundation, and DMDII. For the latest news and information about PDF Solutions or to find office locations, visit https://www.pdf.com.

    PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. or its subsidiaries.

    Company Contacts:    
    Adnan Raza   Sonia Segovia
    Chief Financial Officer   Investor Relations
    Tel: (408) 516-0237   Tel: (408) 938-6491
    Email: adnan.raza@pdf.com   Email: sonia.segovia@pdf.com
         

    PDF SOLUTIONS, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
    (In thousands)

                 
           December 31, 
        2024   2023
                 
    ASSETS            
    Current assets:            
    Cash and cash equivalents   $ 90,594     $ 98,978  
    Short-term investments     24,291       36,544  
    Accounts receivable, net     73,649       44,904  
    Prepaid expenses and other current assets     17,445       17,422  
    Total current assets     205,979       197,848  
    Property and equipment, net     48,465       37,338  
    Operating lease right-of-use assets, net     4,029       4,926  
    Goodwill     14,953       15,029  
    Intangible assets, net     12,307       15,620  
    Deferred tax assets, net     43       157  
    Other non-current assets     29,513       19,218  
    Total assets   $ 315,289     $ 290,136  
                 
    LIABILITIES AND STOCKHOLDERS’ EQUITY            
    Current liabilities:            
    Accounts payable   $ 8,255     $ 2,561  
    Accrued compensation and related benefits     16,855       14,800  
    Accrued and other current liabilities     8,752       4,633  
    Operating lease liabilities ‒ current portion     1,675       1,529  
    Deferred revenues ‒ current portion     24,930       25,750  
    Billings in excess of recognized revenues     75       1,570  
    Total current liabilities     60,542       50,843  
    Long-term income taxes     2,915       2,972  
    Non-current operating lease liabilities     3,504       4,657  
    Other non-current liabilities     2,291       2,718  
    Total liabilities     69,252       61,190  
                 
    Stockholders’ equity:            
    Common stock and additional paid-in capital     502,908       473,301  
    Treasury stock, at cost     (159,352 )     (143,923 )
    Accumulated deficit     (93,988 )     (98,045 )
    Accumulated other comprehensive loss     (3,531 )     (2,387 )
    Total stockholders’ equity     246,037       228,946  
    Total liabilities and stockholders’ equity   $ 315,289     $ 290,136  
     

    PDF SOLUTIONS, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
    (In thousands, except per share amounts)

                                   
      Three months ended   Year ended
        December 31,    September 30,    December 31,    December 31,    December 31, 
        2024     2024     2023        2024     2023  
                                 
    Revenues:                              
    Analytics   $ 47,926     $ 44,750     $ 39,128     $ 169,253     $ 152,085  
    Integrated yield ramp     2,159       1,659       1,997       10,212       13,750  
    Total revenues     50,085       46,409       41,125       179,465       165,835  
                                   
    Costs and Expenses:                              
    Costs of revenues     15,901       12,484       13,194       54,144       51,749  
    Research and development     14,417       13,516       12,308       53,566       50,736  
    Selling, general, and administrative     19,073       18,094       16,194       69,924       62,216  
    Amortization of acquired intangible assets     182       196       306       896       1,285  
    Interest and other expense (income), net     (962 )     (1,511 )     (1,020 )     (5,644 )     (5,020 )
    Income before income tax benefit (expense)     1,474       3,630       143       6,579       4,869  
    Income tax benefit (expense)     (935 )     (1,424 )     744       (2,522 )     (1,764 )
    Net income   $ 539     $ 2,206     $ 887     $ 4,057     $ 3,105  
                                   
    Net income per share:                              
    Basic   $ 0.01     $ 0.06     $ 0.02     $ 0.11     $ 0.08  
    Diluted   $ 0.01     $ 0.06     $ 0.02     $ 0.10     $ 0.08  
                                   
    Weighted average common shares used to calculate net income per share:                              
    Basic     38,783       38,710       38,269       38,602       38,015  
    Diluted     39,104       39,105       38,814       39,047       38,937  
     

    PDF SOLUTIONS, INC.
    RECONCILIATION OF GAAP GROSS MARGIN TO NON-GAAP GROSS MARGIN (UNAUDITED)
    (In thousands)

                                             
      Three months ended     Year ended
        December 31,    September 30,    December 31,    December 31,    December 31, 
        2024   2024   2023   2024   2023
                                           
    GAAP                                        
    Total revenues   $ 50,085     $ 46,409     $ 41,125     $ 179,465     $ 165,835  
    Costs of revenues     15,901       12,484       13,194       54,144       51,749  
    GAAP gross profit   $ 34,184     $ 33,925     $ 27,931     $ 125,321     $ 114,086  
    GAAP gross margin     68 %     73 %     68 %     70 %     69 %
                                             
    Non-GAAP                                        
    GAAP gross profit   $ 34,184     $ 33,925     $ 27,931     $ 125,321     $ 114,086  
    Adjustments to reconcile GAAP to non-GAAP gross margin:                                        
    Stock-based compensation expense     1,336       1,366       1,147       5,087       4,169  
    Amortization of acquired technology     583       584       586       2,335       2,266  
    Non-GAAP gross profit   $ 36,103     $ 35,875     $ 29,664     $ 132,743     $ 120,521  
    Non-GAAP gross margin     72 %     77 %     72 %     74 %     73 %
     

    PDF SOLUTIONS, INC.
    RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME (UNAUDITED)
    (In thousands, except per share amounts)

                                     
      Three months ended   Year ended
        December 31,    September 30,    December 31,    December 31,    December 31, 
        2024   2024   2023   2024   2023
                                   
    GAAP net income   $ 539     $ 2,206     $ 887     $ 4,057     $ 3,105  
    Adjustments to reconcile GAAP net income to non-GAAP net income:                                
    Stock-based compensation expense     6,507       6,730       5,923       25,047       21,484  
    Amortization of acquired technology under costs of revenues     583       584       586       2,335       2,266  
    Amortization of other acquired intangible assets     182       196       306       896       1,285  
    Expenses for certain legal proceedings (1)     69       —       75       69       2,600  
    Non-recurring legal, tax and accounting service-related costs     940       —       —       940       209  
    Loss on damaged equipment in-transit, net of (recovery) from previously written-off property and equipment     663       (55 )     —       608       (105 )
    Tax impact of valuation allowance for deferred tax assets and reconciling items (2)     375       262       (2,060 )     (1,335 )     (2,374 )
    Non-GAAP net income   $ 9,858     $ 9,923     $ 5,717     $ 32,617     $ 28,470  
                                     
    GAAP net income per diluted share   $ 0.01     $ 0.06     $ 0.02     $ 0.10     $ 0.08  
    Non-GAAP net income per diluted share   $ 0.25     $ 0.25     $ 0.15     $ 0.84     $ 0.73  
                                     
    Weighted average common shares used in GAAP net income per diluted share calculation     39,104       39,105       38,814       39,047       38,937  
    Weighted average common shares used in non-GAAP net income per diluted share calculation     39,104       39,105       38,814       39,047       38,937  

    (1) Represents legal costs and expenses related to certain litigation and an arbitration proceeding which are expected to continue until these matters are resolved.
    (2) The difference between the GAAP and non-GAAP income tax provisions is primarily due to the valuation allowance on a GAAP basis and non-GAAP adjustments. For example, on a GAAP basis, the Company does not receive a deferred tax benefit for foreign tax credits or research and development credits after the valuation allowance. The Company’s non-GAAP tax rate and resulting non-GAAP tax expense is not calculated with a full U.S. federal or state valuation allowance due to the Company’s cumulative non-GAAP income and management’s conclusion that it is more likely than not to utilize its net deferred tax assets (DTAs). Each reporting period, management evaluates the need for a valuation allowance and may place a valuation allowance against its U.S. net DTAs on a non-GAAP basis if it concludes it is more likely than not that it will not be able to utilize some or all of its U.S. DTAs on a non-GAAP basis.

    The MIL Network –

  • MIL-OSI New Zealand: Police seek vehicle of interest over indecent act in Epsom

    Source: New Zealand Police (National News)

    Police are seeking information on a vehicle of interest involved in an indecent act committed in Epsom this week.

    Police have been investigating the complaint about a man’s behaviour towards a young student on the afternoon of 12 February.

    Detective Senior Sergeant Mark Greaves, Area Investigations Manager for Auckland City East, says the investigation has progressed in recent days.

    “We have now obtained an image of a vehicle in the Gladwin Road area on Tuesday afternoon,” he says.

    “Police would like anyone who saw this vehicle, or has further information concerning it to contact us.”

    The incident occurred at around 3.35pm, when the sole male occupant of the vehicle began doing an act towards the young student walking past on Gladwin Road.

    “Fortunately this man did not exit the vehicle, and it was last seen travelling down Lewin Road,” Detective Senior Sergeant Greaves says.

    “Anyone who has information, please contact Police.

    “I’d also encourage the driver of this vehicle, who knows who they are, to stop delaying the inevitable and come to speak with Police.”

    If you have information, please contact Police on 105 using the reference number 250212/5501.

    Information can also be provided anonymously via Crime Stoppers on 0800 555 111.

    ENDS

    Jarred Williamson/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: OJI needs to work with government and unions before closure

    Source: Council of Trade Unions – CTU

    NZCTU Te Kauae Kaimahi President Richard Wagstaff has called on OJI Fibre Solutions to work with the government, unions, and the community before closing the Kinleith Paper Mill.

    “OJI has today announced 230 job losses in what will be a devastating blow for the community. OJI needs to work with all partners to make sure that we get the best outcome on the site,” said Wagstaff.

    “At the meeting this morning, OJI officials disclosed that they were in negotiation with the Government about support for the Kinleith site. This support would be an investment in the pulp production side. It is essential that this investment comes with guarantees from OJI that as much employment is maintained on site as possible.

     “Given the offer from the Minister, and the potential impact on the supply chain if alternative suppliers of paper are not found, OJI should reconsider their decision today to terminate employees.

    “OJI must get round the table with all parties and find a solution that keeps as much employment on the site as possible. OJI Kinleith products are a vital part of the supply chain for our dairy and fruit exports.

     “There is an opportunity here for a better outcome at Kinleith. One that would deliver more jobs, and brighter economic development for the region. We need to make that happen for the benefit of workers, the community and the regional manufacturing sector,” said Wagstaff.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Albanese Government delivers faster broadband to the regions with completion of $480 million NBN upgrades

    Source: Australian Ministers 1

    Households and businesses in regional, remote and outer-urban areas are benefiting from faster broadband and increased data with the completion of the Albanese Government’s $480 million upgrades to NBN Co’s Fixed Wireless and Satellite services.
     
    Around 800,000 premises can now access broadband speeds of at least 100/20 Mbps. These increased speeds allow for smoother streaming, faster downloads and uploads, and stronger connections – even with multiple devices online at the same time.
     
    The fixed wireless upgrades have already delivered increased average end-user download speeds for households from around 48Mbps in 2022 to over 100 Mbps today. 
     
    Using the latest 4G and 5G wireless technology has also enabled an additional 120,000 premises to access fixed wireless for the first time.
     
    NBN Co has launched two faster speed tiers: around 90% of premises in the fixed wireless footprint can now access speeds of up to 200-250 Mbps download. Around 80% of premises can access speeds of up to 400 Mbps.
     
    These upgraded services are helping to meet Australia’s growing demand for data.
     
    The average Australian household is using more than 450GB of data per month with around 22 connected devices. This is forecast to increase to 1 Terabyte and more than 40 devices by the end of the decade.
     
    In addition to fixed wireless upgrades, the program has also improved NBN’s Sky Muster satellite service, which provides much-needed connectivity options for more than 200,000 households and businesses in regional and remote Australia.
     
    Thanks to the Albanese Government, customers now have unlimited data through NBN Co’s Sky Muster Plus Premium, providing download speeds of up to 100 Mbps.
     
    The $480 million upgrade complements the Albanese Government’s nation-building investment to deliver a world-class NBN fibre network, backed by an additional $3 billion equity investment.
     
    Quotes attributable to the Minister for Communications, the Hon Michelle Rowland MP:
     
    “Fast, reliable, affordable internet is an essential building block of any modern economy, boosting productivity, enabling innovation and creating jobs.
     
    “Families and businesses in our regions and suburbs should have equal access to the opportunities the NBN delivers. Labor founded the NBN on this principle. 
     
    “Faster, more reliable internet allows smoother streaming, faster downloads and uploads, and stronger connections – even with multiple devices online at the same time.
     
    “It enables access to essential government services, banking and telehealth, and learning and working online.
     
    “The completion of these upgrades demonstrates what can be done with a publicly-owned NBN Co.
     
    “In contrast, Peter Dutton wants to privatise the NBN, reducing services and making high speed internet more expensive for all Australians.”

    MIL OSI News –

  • MIL-OSI Australia: Lives lost revised – Ardrossan

    Source: South Australia Police

    The number of lives lost on South Australian roads has been revised following an investigation into the death of a man at Ardrossan earlier this month.

    Emergency services were called to Maitland Road, Ardrossan, between Main Coast Road and Old Pump Road about 9.50am on Sunday 9 February, by reports a car had left the road and collided with a tree.

    Sadly, the driver, a 74-year-old local man, died at the scene.

    The man’s death has been determined to be due to other issues.

    As a result, the man’s death will not be counted in the number of ‘Lives Lost’ on SA roads.

    The current number of lives lost is 15.

    MIL OSI News –

  • MIL-OSI USA: Secretary of Defense Pete Hegseth Press Conference Following NATO Ministers of Defense Meeting in Brussels, Belgium

    Source: United States Department of Defense

    UNKNOWN:  Good afternoon, everyone. We’re going to start with the US press. We’re going to take two from the US, we’ll take two from international, and then we’ll go from there depending on the secretary. So, let us start with —

    DEFENSE SECRETARY PETE HEGSETH:  Now, hold on, John.

    UNKNOWN:  Sir?

    DEFENSE SECRETARY PETE HEGSETH:  I’m going to talk first.

    UNKNOWN:  Roger that.

    DEFENSE SECRETARY PETE HEGSETH:  It is great to be here at NATO with 31 allies, also with my wife Jenny, who’s been meeting with families of US troops both here, in Germany, and we’re heading to Poland right after this as well. That’s what this is all about for me, for President Trump and the Defense Department.

    I also want to express a special thanks to the secretary general, Secretary General Rutte, for your boldness, for your friendship, for your leadership and most especially for your urgency — your urgency of the matter at hand, which is great to see from the leader of NATO. Look forward to working very closely with him and his team.

    And before we’re talking about what we’ve done at the ministerial, I want to reaffirm a few things from this podium. First, as we see it, NATO’s strategic objectives are to prevent great power conflict in Europe, deter nuclear and non-nuclear aggression, and defeat threats to treaty allies should deterrence fail.

    Second, the US is committed to building a stronger more lethal NATO. However, we must ensure that European and Canadian commitment to article three of this treaty is just as strong. Article three says that allies, and I quote, “By means of continuous and effective self-help and mutual aid will maintain and develop their individual and collective capacity to resist armed attack.”

    Leaders of our European allies should take primary responsibility for defense of the continent, which means security ownership by all allies guided by a clear understanding of strategic realities and it’s an imperative given the strategic realities that we face. And that begins with increasing defense spending. 2 percent is a start, as President Trump has Trump has said, but it’s not enough, nor is 3 percent, nor is 4 percent. More like 5 percent. Real investment. Real urgency.

    We can talk all we want about values. Values are important. But you can’t shoot values. You can’t shoot flags and you can’t shoot strong speeches. There is no replacement for hard power. As much as we may not want to like the world we live in, in some cases, there’s nothing like hard power. It should be obvious that increasing allied European defense spending is critical as the President of the United States has said.

    Also critical is expanding our defense industrial base capacity on both sides of the Atlantic. Our dollars, our euros, our pounds must become real capabilities.  The US is fully committed under President Trump’s leadership to pursue these objectives in face — in the face of today’s threats.

    Yesterday, I had a chance to attend the Ukraine Defense Contact Group. Today, participated in both the NATO ministerial and the Ukraine Council. In both, we discussed Russia’s war of aggression against Ukraine. I had the chance to brief allies on President Trump’s top priority; a diplomatic peaceful end to this war as quickly as possible in a manner that creates enduring and durable peace.

    The American Defense Department fully supports the efforts of the Trump administration and we look to allies to support this important work with leading on Ukraine security assistance now through increased contributions and greater ownership of future security assistance to Ukraine. To that end, I want to thank my UK counterpart, Defense Secretary John Healey, for hosting this Ukraine Defense Contact Group and for his leadership on support of Ukraine.

    President Trump gave me a clear mission, achieve peace through strength as well as put America first, our people, our taxpayers, our borders, and our security. We are doing this by reviving the warrior ethos, rebuilding our military and reestablishing deterrence. NATO should pursue these goals as well. NATO is a great alliance, the most successful defense alliance in history.

    But to endure for the future, our partners must do far more for Europe’s defense. We must make NATO great again. It begins with defense spending, but must also include reviving the transatlantic defense industrial base, rapidly fielding emerging technologies, prioritizing readiness and lethality, and establishing real deterrence.

    Finally, I want to close with this. After World War II first General and then President Eisenhower was one of NATO’s strongest supporters. He believed in a strong relationship with Europe. However, by the end of Eisenhower’s presidency, even he was concerned that Europe was not shouldering enough of its own defense, nearly making, in Eisenhower’s words, “A sucker out of Uncle Sam.” Well, like President Eisenhower, this administration believes in alliances. Deeply believes in alliances. But make no mistake, President Trump will not allow anyone to turn Uncle Sam into Uncle Sucker. Thank you, and we’re glad to take some questions.

    UNKNOWN:  Thanks very much. Let’s start with the US traveling TV pool with Liz Frieden.

    Q:  Thank you, Secretary Hegseth. You have focused on what Ukraine is giving up. What concessions will Putin be asked to make?

    DEFENSE SECRETARY PETE HEGSETH:  Well, that’s — I would start by saying the arguments that have been made that somehow coming to the table right now is making concessions to Vladimir Putin outright, that we otherwise — or that the President of the United States shouldn’t otherwise make, I just reject that at its face.

    There’s a reason why negotiations are happening right now, just a few weeks after President Trump was sworn in as President United States. Vladimir Putin responds to strength. In 2014 he invaded Crimea, not during the presidency of Donald Trump. Over four years, there was no Russian aggression from 2016 to 2020. In 2022, Vladimir Putin took aggression on Ukraine. Once again, not while President Trump was President of the United States.

    So any suggestion that President Trump is doing anything other than negotiating from a position of strength is on its face a historical and false. So when you look at what he may have to give or take, what’s in or what’s out in those negotiations, we have the perfect dealmaker at the table from a position of strength to deal with both Vladimir Putin and Zelenskyy.

    No one’s going to get everything that they want, understanding who committed the aggression in the first place. But I challenge anyone else to think of a world leader at this moment who, with credibility and strength, could bring those two leaders to the table and forge a durable peace that ultimately serves the interests of Ukraine, stops the killing and the death, which president has been — Trump has been clear he wants to do and hopefully ultimately is guaranteed — or guaranteed by strength of Europeans who are there prepared to back it up.

    Q:  To follow up on that — follow up. Thank you, sir. Why not invoke article five then for the NATO peacekeeping forces that could potentially be deployed? Like, how does that deter President Putin?

    DEFENSE SECRETARY PETE HEGSETH:  Well, I would say I want to be clear about something as it pertains to NATO membership not being realistic outcome for negotiations. That’s something that was stated as part of my remarks here as part of a coordination with how we’re executing these ongoing negotiations, which are led by President Trump.

    All of that said, these negotiations are led by President Trump. Everything is on the table in his conversations with Vladimir Putin and Zelenskyy. What he decides to allow or not allow is at the purview of the leader of the free world of President Trump. So I’m not going to stand at this podium and declare what President Trump will do or won’t do, what will be in or what will be out, what concessions will be made or what concessions are not made.

    I can look as our team has of what’s realistic, likely on an outcome. I think realism is an important part of the conversation that hasn’t existed enough inside conversations amongst friends. But simply pointing out realism, like the borders won’t be rolled back to what everybody would like them to be in 2014, is not a concession to Vladimir Putin. It’s a recognition of hard power realities on the ground after a lot of investment and sacrifice first by the Ukrainians and then by allies and then a realization that a negotiated peace is going to be some sort of demarcation that neither side wants. But it’s not my job as the Secretary of Defense to define the parameters of the President of the United States as he leads some of the most complex and consequential negotiations in the world.

    UNKNOWN:  Sticking with the US press, let us go with Axios’ Zach Basu right in the far right.

    Q:  Thank you, Mr. Secretary. Given the position you’ve now staked out, what leverage exactly is Ukraine being left with, especially if the US also plans to wind down its military aid? And then quickly, if a NATO ally is attacked by Russia or any country, will the US unequivocally uphold its obligations under article five regardless of that country’s —

    DEFENSE SECRETARY PETE HEGSETH:  — We’ve said we’re committed to the alliance and that’s part of the alliance, right? You pointed out article five. You point out article three — it’s just a cheap — I’m not saying it’s cheap coming from you — but it’s just a cheap political point to say, oh, we’ve left all the negotiating cards off the table by recognizing some realities that exist on the ground. President Zelenskyy understands the realities on the ground. President Putin understands the realities on the ground. And President Trump, as a dealmaker, as a negotiator, understands those dynamics as well.

    By no means is anything that I state here, even though we lead the most powerful military in the world, hemming in the commander in chief, in his negotiations, to ultimately decide where it goes or does not go. Well, he’s got all the cards he would like.

    And the interesting part is oftentimes while the conventional status quo mindset or the legacy media wants to play checkers, the same checkers game we’ve been playing for decades, President Trump time and time again finds a way to play chess — as a dealmaker, as a businessman who understands how to create realities and opportunities where they otherwise may not exist.

    Take for example, the conversations that our treasury secretary had in Kyiv recently with President Zelenskyy, which will continue in Munich with our vice president and secretary of state, around investments and resources inside Ukraine. I don’t want to get ahead of any decision or announcement that could be made there, it could be any number of parameters.

    But President Trump as a dealmaker and a businessman recognizes that an investment relationship with Ukraine, ultimately in the long term for the United States, is a lot more tangible than any promises or shared values we might have, even though we have them. There is something to relationships and deals in real ways, whether militarily or economically or diplomatically, that he sees that are possibilities that could forge together a lot of opportunities to show that solidarity that Vladimir Putin will clearly recognize.

    That’s one of any number of other opportunities that this president will leverage in these high-stake negotiations. So, I just reject on its face the premise that somehow President Trump isn’t dealing with a full set of cards when he’s the one that can determine ultimately what cards he holds.

    UNKNOWN:  Great. Now shifting to the international press, we’ll take the French wire service Agence France Presse with Max Delaney.

    Q:  Thank you very much, Secretary of Defense. Can you — you’ve spoken about trying to force both Putin and Zelenskyy to the table. Can you give a guarantee that no deal will be forced on Ukraine that they do not want to accept? And also, that you will include Europe in the negotiations about their own — about an issue that concerns European security? And can you tell us whether the US will continue to supply arms to Ukraine during any negotiations?

    DEFENSE SECRETARY PETE HEGSETH:  Well, to the first part of your question, that’s not ultimately my decision. The president will lead these negotiations alongside our secretary of state, our national security advisor, and numerous other officials that will be involved. And ultimately, we’ve played our role in talking to our NATO allies about what that would look like.

    President Trump, I want to point out, I’ve got the truth’s right here that he posted, called both, in case we missed it, Vladimir Putin and President Zelenskyy, called them both. Any negotiation that’s had will be had with both.

    I also am very encouraged by what the secretary general has said here. Clearly attuned to the realities of the moment, the need for peace, and that the NATO alliance and European members will play a role in that.

    Ultimately, President Trump speaking to those two countries is central to the deal being made. But it affects a lot of people, of course. So, I’m not going to be involved in those intimate diplomatic negotiations. That’s for the pros atop the Trump administration who do diplomacy and negotiations. Ultimately as security assistance, we have continued to provide what has been allocated.

    I think it would be fair to say that things like future funding, either less or more, could be on the table in negotiations as well. Whatever the president determines is the most robust carrot or stick on either side to induce a durable peace, understanding, obviously, the motivations that Vladimir Putin has had on Ukraine for quite some time. Thank you.

    UNKNOWN:  We’ll have a second international press outlet. We’ll go with the German paper Frankfurter Allgemeine Zeitung with Dr. Thomas Gutschker.

    Q:  Thanks a lot. Thomas Gutschker of Frankfurter Allgemeine Zeitung. Good afternoon. Mr. Secretary, two questions, please. The first one regarding the new Defense Investment Pledge.

    When you and President Trump speak about raising it to 5 percent, do you mean European allies only, or do you mean the US as well, which is currently at 3.4 percent according to NATO statistics? And if the latter is true, when do you think the US could possibly reach the goal of spending 5 percent on defense? That’s number one.

    Number two, you said yesterday that Europeans need to take ownership of their own conventional security. So, should Europeans expect that ultimately the US would withdraw the bulk of their forces from Europe and just leave in place what is necessary for nuclear deterrence? I know there’s a revision going on. I don’t expect you to name any numbers but maybe give us an outlook of what we should expect. Thank you.

    DEFENSE SECRETARY PETE HEGSETH:  Thank you. I think nobody can or should contest the extent of America’s willingness to invest in national security. We have a budget of $850 billion spent on defense. I’m in the business of ensuring that every dollar of that is used wisely, which is why we’re pushing a Pentagon audit and making sure that we’re cutting fat so that we’ve got more at the tip of the spear.

    3.4 percent is a very robust investment, larger than most of our allies within NATO. Any defense minister or secretary of defense that tells you they wouldn’t want more would be lying to you, I understand that. Ultimately, we have our own budgetary considerations to be had, but I don’t think an unwillingness of NATO allies to invest in their own defense spending can be dismissed away by trying to point at the $900 billion that America has invested around the globe to include the NATO alliance and saying that’s not enough.

    So, ultimately, we are very much committed to the NATO alliance and to our allies. But without burden sharing, without creating the right set of incentives for European countries to invest, then we would be forced to attempt to be everywhere for everybody all the time, which in a world of fiscal restraints is, again, to get back to that word reality, just not reality.

    So, yes, we will continue to spend robustly. Our expectation of our friends, and we say this in solidarity, is you have to spend more on your defense, for your country, on that continent, understanding that the American military and the American people stand beside you as we have in NATO, but can’t have the expectation of expectation of being the permanent guarantor, as I alluded to, from what even Eisenhower observed post-World War II.

    That shift has to happen. The peace dividend has to end. There are autocrats with ambitions around the globe from Russia to the communist Chinese. Either the West awakens to that reality and creates combat multipliers with their allies and partners to include NATO, or we will abdicate that responsibility to somebody else with all the wrong values.

    You mentioned Europe, we have not said in any way that we’re abandoning our allies in Europe. There have been no decisions based on troop levels. Again, that’s a discussion to be had by the commander in chief in these high-stake negotiations. And that would most likely come later on. But there is a recognition that the ambitions of the communist Chinese are a threat to free people everywhere, to include America’s interests in the Pacific.

    And it makes a lot of sense, just in a commonsense way, to use our comparative advantages. European countries spending here in defense of this continent, in defense of allies here against an aggressor on this continent with ambitions. That strikes me as the right place to — and I don’t say that in a condescending way. I say that in a common sense, practical way.

    Investing in defense on the continent makes sense. We support that as well. It also makes sense comparatively and geographically for the United States, along with allies in the Pacific like Japan and South Korea and the Philippines and Australia and others, to also invest in allies and partners and capabilities in the Pacific to project power there in service of deterrence. That deterrent effect in the Pacific is one that really can only be led by the United States.

    We wish we could lead everywhere at all times. We will stand in solidarity with allies and partners and encourage everyone to invest in order to have forced multiplication of what we represent, but it requires realistic conversations. Those with disingenuous motives in the media, I don’t mean to look at you, just saying anyone, that suggests it’s abandonment are trying to drive a wedge between allies that does not exist.

    We are committed to that NATO alliance. We understand the importance of that partnership, but it can’t endure on the status quo forever in light of the threats we face and fiscal realities. Europe has to spend more. NATO has to spend more. Has to invest more. And we’re very encouraged by what the secretary general has said and frankly, by — behind closed doors, what a lot of our allies have said as well acknowledging that reality.

    And that’s why when I say make NATO great again, it’s what President Trump set out to do in 2017. The press said President Trump is abandoning NATO. He’s turning his back on our NATO allies. That’s what is — that’s what the headlines read in 2017 and 2018. What actually happened? That tough conversation created even more investment to the point where now almost every NATO country is meeting the 2 percent goal that was said to be egregious when he first said it. Now European countries are stepping up and President Trump continues to ring the alarm bell that even more investment is required considering where we are.

    So suggestions of abandonment otherwise continue to be disingenuous and we are — we are proud to be part of this alliance and stand by it.

    UNKNOWN:  Sir —

    DEFENSE SECRETARY PETE HEGSETH:  — I’ll take a couple more.

    UNKNOWN:  Sure. Why don’t we take one from a US outlet and one from an international outlet. With the US outlet — pardon me, sir, what we’re going to take from the US is Logan Rateck from Newsmax, please.

    Q:  Mr. Secretary, you talked about what — you talked about expanding the defense industrial base and also expediting foreign military sales. Can you expand on that a little bit and how important that is to NATO?

    DEFENSE SECRETARY PETE HEGSETH:  Well, one of the self-evident conclusions of the — of the war in Ukraine was the underinvestment that both the European continent and America has had, unfortunately, in the defense industrial base, the ability to produce munitions, emerging technologies rapidly and field them was a blind spot exposed through the aggression against Ukraine.

    Ukraine has responded to that, as we’ve had a chance to listen to a great deal. Europe is responding to that, and so is America. We have to do more to ensure — whether you call it the arsenal for democracy or defending the free world, if America can’t build and export and build and provide rapid capabilities because we’re too stale or static or bureaucratic or the Pentagon is bloated, then we’re not able to field the systems we need in the future.

    So deep and dramatic reforms are coming at the Defense Department with the leadership of President Trump to ensure that we’re investing robustly in our defense industrial base. A great example is shipbuilding. We need to vastly increase our ability to build ships and submarines, not just for ourselves, but to honor our obligations to our allies as well.

    And we will do that. Foreign military sales is another thing I mentioned this morning with the secretary general. We have for a long time been the country by with and through that our allies are able to supply major platforms and weapon systems like the F-35 and the Patriots and others. Whatever the system is, we need to reform that process so it’s quicker, so a request today isn’t delivered seven years from now, but three years from now with less red tape and with the most efficient and effective technology possible.

    We hear that from our allies, and that’s part of being a good faith partner is we’re going to invest in our defense industrial base. We’re going to make sure foreign military sales are as rapid as possible, which again is a force multiplier for American power, which is something we want to do in a contested world.

    UNKNOWN:  For our final question, we’ll go to an international outlet. The Japanese service NHK with Tsuchiya Tsujita, please.

    Q:  Tsuchiya from NHK, the Japanese TV station, thank you very much. I would like to ask about China. As you mentioned that the US will be prioritizing and deterring China, what role will you be expecting Japan and IPv4 countries to play in this context?

    DEFENSE SECRETARY PETE HEGSETH:  Sure. I mean, first of all, I would point out that President Trump has expressed a strong relationship with Xi Jinping. We don’t have an inevitable desire to clash with China. There’s a recognition that there are divergent interests which lead to a need for strength on the American side to ensure our interests are advanced and that ultimately any aggression is deterred. That’s a real thing, but we don’t feel like conflict is inevitable and certainly don’t seek conflict with China. And that’s why President Trump has that good relationship with Xi Jinping.

    But it was prudent for us to work with allies and partners in the Pacific to ensure that that deterrence, hard power deterrence, not just reputational, but reality exists. And that’s why a lot of my first phone calls as Secretary of Defense were to Pacific allies, to Australia, to Japan, to South Korea, to the Philippines and others and will continue because that, just as this alliance in Europe is critical, working by with and through allies and partners in that region who understand the reality of the ascendant Chinese threat will be critical.

    It can’t be America alone. It won’t be America alone if we are to deter that. So it’s — it is a focus. I’ve articulated that from day one. America achieves strength, whether it’s in this — in the — in the — in peace through the Ukrainian conflict or deterring it in the Pacific through strength. There’s a reason why Donald Trump emphasizes peace through strength at every moment.

    My job, my job alone as the Secretary of Defense is to ensure he has the strongest, most capable, most lethal military possible. Heaven forbid we have to use it. It’s meant and built for deterrence. But if we have to, we can close with and destroy our enemies and bring our men and women home with success as quickly as possible. Thank you very much for being here.

    UNKNOWN:  Thank you, everyone.

    MIL OSI USA News –

  • MIL-OSI USA: Washington joins landmark multistate lawsuit to stop Elon Musk’s unconstitutional power grab

    Source: Washington State News

    OLYMPIA — Washington State Attorney General Nick Brown today joined 13 other attorneys general in a lawsuit challenging President Trump’s unlawful delegation of executive power to Elon Musk — the world’s richest man who is unelected, unconfirmed and upending the federal government.

    The lawsuit argues that President Trump has violated the Appointments Clause of the U.S. Constitution by creating a new federal department without congressional approval, and by granting Musk sweeping powers over the entire federal government without the advice and consent of the Senate or accountability to the people of the United States. 

    “Elon Musk has amassed — or simply taken for himself — unaccountable power to walk into any federal agency, fire people, eliminate programs authorized by Congress, and access confidential personal and national security information without regard for the consequences,” Brown said. “Washingtonians will not stand by while their safety and freedoms are threatened by a lawless administration intent on shredding the Constitution line by line.”

    “Elon Musk’s role in the Trump administration is unconstitutional,” said Washington state Governor Bob Ferguson. “If the President wants Musk or any other powerful billionaire to have a significant role in running our government, he can and should appoint them as the Constitution requires.”

    The lawsuit highlights how, with the president’s approval, Musk has unraveled federal agencies, accessed sensitive data, and caused widespread disruption for state and local governments, federal employees, and the American people. The complaint further asserts that Musk’s actions violate the Appointments Clause of the U.S. Constitution, which ensures that executive appointments are subject to congressional oversight and Senate confirmation.

    Musk’s so-called Department of Government Efficiency has targeted federal agencies that provided over $20 billion in federal grants to Washington last year alone. Among other unlawful acts, he effectively shut down USAID, which provides grants that Washington State University and Washington farmers rely on to study and prevent deadly livestock diseases, protect Washington against disease outbreaks in other parts of the world, and strengthen food security. In the past days, he has threatened to close the Department of Education, which provided $2.5 billion to Washington last year for special education programs, school lunches, and academic assistance to students.

    “Musk’s seemingly limitless and unchecked power to strip the government of its workforce and eliminate entire departments with the stroke of a pen, or click of a mouse, is unprecedented,” the lawsuit states. “The sweeping authority now vested in a single unelected and unconfirmed individual is antithetical to the nation’s entire constitutional structure.”

    Defendants’ actions threaten the financial and operational stability of the states by disrupting billions of dollars in federal funding essential for law enforcement, healthcare, education, and other critical services. State agencies depend on federal funds and cooperative agreements, and the termination of these partnerships would result in severe budget shortfalls, staffing crises, and the potential loss of key programs. Similarly, the proposed elimination of the U.S. Department of Education would strip away federal civil rights oversight in schools, leaving states with uncertain legal authority to address discrimination cases involving students with disabilities and enforce Individualized Education Programs (IEPs) and disability protections.

    Beyond financial and regulatory harms, the reckless expansion of DOGE’s authority endangers cybersecurity and erodes public trust. DOGE operatives have reportedly accessed federal financial databases containing sensitive state tax records and banking information without proper oversight, increasing the risk of cyberattacks, data breaches, and foreign exploitation.

    The manipulation of federal IT infrastructure by unauthorized individuals threatens not only state financial security but also the integrity of critical national systems. As reports of unauthorized access to Treasury databases emerge, citizens have expressed growing fear that their private financial data is at risk, leading to a chilling effect on participation in state-administered federal programs. The plaintiff states are now forced to contend with both immediately.

    Washington and its partner states seek a court ruling declaring Musk’s actions unconstitutional and invalidating them, and issuing an injunction barring him from issuing further unlawful orders.

    The New Mexico Department of Justice leads this lawsuit with Arizona and Michigan as co-leads. Washington also joins New Mexico, Arizona, Michigan, California, Connecticut, Hawaii, Maryland, Massachusetts, Minnesota, Nevada, Oregon, Rhode Island, Hawaii, and Vermont.

    -30-

    Washington’s Attorney General serves the people and the State of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties. Visit www.atg.wa.gov to learn more.

    Media Contact:

    Email: press@atg.wa.gov

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    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Bonta Provides Guidance for Businesses on Diversity, Equity, Inclusion, and Accessibility Initiatives in the Workplace

    Source: US State of California

    Policies and practices that combat unalwful discrimination and harrassment remain an important – and legal – tool for improving hiring, retention, and employee engagement

    OAKLAND – California Attorney General Rob Bonta today, as part of a coalition of 16 attorneys general, issued guidance to help businesses, nonprofits, and other organizations understand the viability and importance of diversity, equity, inclusion and accessibility policies and practices in creating and maintaining legally compliant and thriving workplaces. The guidance comes in response to concerns from employers stemming from President Trump’s executive order purportedly targeting “illegal DEI and DEIA policies.” The guidance emphasizes that efforts to seek and support diverse, equitable, inclusive, and accessible workplaces are not illegal and that the federal government cannot prohibit these efforts in the private sector through an executive order. 

    “The Civil Rights Act of 1964. The Americans with Disabilities Act. The Age Discrimination in Employment Act. All of these ‘diversity, equity, and inclusion’ laws have made our country fairer and stronger and a place where everyone can thrive. Despite what the President may say, diversity, equity, inclusion, and accessibility initiatives are not illegal – nor can he unilaterally make it so,” said Attorney General Bonta. “I urge California businesses not to fall for this scare tactic. Diverse and inclusive workplaces are good for businesses, consumers, and employees alike. In fact, it’s our culture of inclusivity and valuing of diverse perspective that has led California to become a global hub of innovation and the fifth largest economy in the world. To all the businesses hoping to grow and thrive in California, rest assured: We will continue to support your efforts to build and sustain successful and inclusive workplaces.”

    Diversity, Equity, Inclusion and Accessibility Initiatives are Consistent with Federal and State Law 

    The Trump Administration has recently targeted private sector diversity, equity, inclusion, and accessibility policies and practices through an executive order directing agencies to “combat illegal private-sector DEIA preferences, mandates, policies, programs, and activities.” This order conflates valid and legal programs and practices supporting diversity, equity, inclusion and accessibility with unlawful preferences in hiring and promotion. 

    These initiatives are not the same as illegal hiring or promotional preferences to individuals based on protected characteristics. Instead, diversity, equity, inclusion and accessibility practices focus on ensuring that businesses can recruit, hire, and retain qualified employees, and that workplaces provides support needed for all employees to have respect, belonging, and exercise their individual potential to develop their skills and contribute to the success of the business. 

    For decades, state and federal courts have consistently recognized that diversity, equity, inclusion and accessibility policies do not amount to impermissible discrimination. In fact, employment discrimination laws generally require employers to pay attention to the impact their policies and practices have on different groups in order to avoid and limit liability for unlawful conduct. 

    Diversity, Equity, Inclusion and Accessibility Initiatives Help Businesses Prevent Workplace Discrimination  

    In their guidance, the coalition reminds businesses that state and federal law prohibits discrimination in the workplace on the basis of race, sex, national origin, and other protected characteristics. In order to effectively avoid liability for discrimination, employers must take steps to proactively prevent and address discrimination, including by identifying and remediating policies and practices that have an unlawful impact on current and prospective employees. Decades of research and data demonstrate that properly developed and implemented diversity, equity, inclusion and accessibility initiatives help prevent unlawful discrimination and ensure that discriminatory conduct is promptly identified, reported and addressed when it does occur. 

    Diversity, Equity, Inclusion and Accessibility Initiatives Foster Inclusive Recruiting, Hiring and Retention Practices 

    A study found that companies in the top quartile for diversity were 35% more likely to have financial gains above their respective industry counterparts. When diversity, equity, inclusion and accessibility principles are embedded within an organization’s culture, they reduce bias, boost workplace morale, foster collaboration, and create opportunities for all employees. Diverse organizations that prioritize inclusivity tend to outperform their peers, with higher returns, lower turnover, and a more attractive workplace for top talent. 

    The coalition’s guidance highlights best practices for recruitment and hiring, including:  

    • Prioritizing widescale recruitment efforts to attract a larger pool of applicants from a variety of backgrounds. 
    • Using panel interviews, which ensure that multiple people are involved in a hiring or promotion recommendation, helping to eliminate bias. 
    • Setting standardized criteria for evaluating candidates and employees, focused on skills and experience. 
    • Ensuring accessible recruitment and hiring practices and protocols, including reasonable accommodations as appropriate. 

    Additionally, organizations that offer benefits such as employee resource groups, mentorship programs, professionalism trainings, and work groups focused on diversity, equity, inclusion and accessibility are proven to have heightened employee retention and engagement. Best practices for professional development and retention include:  

    • Ensuring equal access to all aspects of professional development, training and mentor programs that provide clear pathways for career growth. 
    • Setting up Employee Resource Groups to create inclusive and supportive spaces where employees of particular backgrounds or common experiences feel valued and heard. 
    • Conducting training on topics such as unconscious bias, inclusive leadership, and disability awareness to improve employee confidence and create a shared understanding around cultural norms. 
    • Ensuring equal access to all aspects of employment, including through reasonable workplace accommodations. 

    Attorney General Bonta joins the attorneys general of Massachusetts, Illinois, Arizona, Connecticut, Delaware, Hawaii, Maine, Maryland, Minnesota, Nevada, New Jersey, New York, Rhode Island, Oregon, and Vermont in issuing the guidance.   

    A copy of the guidance is available here.

    MIL OSI USA News –

  • MIL-OSI Security: Environmental Crimes Bulletin – January 2025

    Source: United States Attorneys General

    View All Environmental Crimes Bulletins

    In This Issue:

    Cases by District/Circuit

    District/Circuit Case Name Statute(s)
    District of Alaska United States v. Jun Liang, et al. Big Game Hunting/Lacey Act
    Eastern District of California United States v. Pir Danish Ali, et al. Wildlife Smuggling/ Conspiracy
    Southern District of California United States v. Ruben Montes, et al. Pesticide and Veterinary Drug Smuggling/Conspiracy
    United States v. Todd Campbell Refrigerant Smuggling/Failure to Declare Merchandise for Inspection
    United States v. Edwin Flores Refrigerant Smuggling/ Conspiracy 
    Middle District of Georgia United States v. Donnametric Miller, et al. Dog Fighting/Animal Welfare Act, Conspiracy, Felon in Possession
    District of Idaho United States v. Jeremy Pierce, et al. Tampering with a Monitoring Device/Clean Air Act
    District of Maryland United States v. Mario Flythe, et al. Dog Fighting/ Conspiracy, Racketeering
    District of New Jersey United States v. Darren McClave, et al. Clam Harvesting/ Conspiracy, Obstruction
    Eastern District of New York United States v. Bryan Gosman, et al. Fish Overharvesting/ Conspiracy, Fraud, Obstruction
    Southern District of Ohio United States v. Joel Brown Dog Fighting/Animal Welfare, Drug, Felon in Possession
    United States v. Giancarlo Morelli, et al. Animal Videos/Animal Crush
    District of Oregon United States v. J.H. Baxter & Co., Inc. et al. Hazardous Waste Treatment and Emissions/Clean Air Act, Resource Conservation and Recovery Act, False Statement
    District of South Dakota United States v. Joe Hofer Eagle Nest Destruction/Bald and Golden Eagle Protection Act
    Southern District of Texas United States v. Andres Alejandro Sanchez Wildlife Smuggling/Lacey Act
    United States v. Eurobulk Ltd., et al. Vessel/Act to Prevent Pollution from Ships/ Obstruction 
    Eastern District of Washington United States v. Ryan Hugh Milliken, et al. Tampering with a Monitoring Device/Clean Air Act, Conspiracy
    Western District of Washington United States v. Tracy Coiteux, et al. Tampering with a Monitoring Device/Clean Air Act, Conspiracy

    Indictments

    United States v. Joel Brown

    • No. 2:24-CR-00180 (Southern District of Ohio)
    • ECS Senior Trial Attorney Adam Cullman
    • AUSA Nicole Pakiz
    • AUSA Kevin Kelley

    On January 22, 2025, a court unsealed an indictment following the arrest of Joel Brown. Brown is charged in a 13-count indictment with illegally possessing dogs for fighting purposes, possessing methamphetamine with intent to distribute and illegally possessing a firearm after a felony conviction (18 USC §§ 922, 924; 7 USC § 2156(b); 21 USC § 841. Trial is scheduled for March 24, 2025.

    Brown kept 11 pit bull-type dogs for fighting purposes in Franklin County. Columbus Humane rescued the dogs and authorities also recovered tools and supplies commonly used in the training and keeping of dogs for fighting. Brown also possessed a shotgun and various types of ammunition, as well as approximately 50 grams of methamphetamine.

    The Bureau of Alcohol, Tobacco, Firearms and Explosives and Columbus Humane conducted the investigation. 

    Guilty Pleas

    United States v. Darren McClave, et al. 

    • Nos. 3:24-CR-00824, 3:25-CR-00001 (District of New Jersey)     
    • ECS Trial Attorney Christopher Hale
    • AUSA Kelly Lyons
    • Former AUSA Kathleen O’Leary

    On January 2, 2025, Darren McClave pleaded guilty to conspiracy to obstruct justice (18 U.S.C. § 371). Sentencing is scheduled for May 6, 2025.

    McClave, captain of a clam vessel based out of New Jersey, was involved in a scheme to illegally harvest and sell excess scallops, violating federal fishing regulations. While clam vessels are authorized to take a limited quantity of scallops as bycatch, McClave routinely exceeded these limits and sold the surplus to Antonio Pereira, a seafood dealer. To cover up the overfishing, McClave and Pereira worked together to falsify the required Fishing Vessel Trip Reports and Dealer Reports mandated by the National Oceanic and Atmospheric Administration.

    Between October 2017 to April 2021, McClave sold over 64,000 pounds of illegal scallops to Pereira, making substantial profits from the illicit operation. Pereira, who participated in the conspiracy, pled guilty on December 19, 2024, to the same charge of conspiracy to obstruct justice. He is scheduled to be sentenced on April 22, 2025.

    The National Oceanic and Atmospheric Administration conducted the investigation.

    United States v. Pir Danish Ali, et al.

    • No. 2:23-CR-00080 (Eastern District of California)
    • AUSA Katherine Lydon
    • AUSA Whitnee Goins

    On January 7, 2025, Jason K. Bruce pleaded guilty to conspiring to smuggle an endangered Ladakh urial trophy into the United States (18 U.S.C. § 371). Sentencing is scheduled for May 20, 2025.

    In March 2023, federal prosecutors charged Bruce and Pir Danish Ali, a Pakistani national, with conspiracy to violate the Endangered Species Act for making false statements and smuggling goods into the United States. Bruce also faced charges of smuggling and violating the Endangered Species Act (18 U.S.C. §§ 371, 545; 16 U.S.C. § 1538(a)(1)(A), (g)).

    Ali, the CEO of a hunting outfitting and guiding company in Pakistan, and Bruce, a recreational big game hunter, began their illegal scheme in February 2016. They conspired to hunt a Ladakh urial, an endangered wild sheep in Pakistan, and smuggle the trophy into the United States. Bruce was aware that exporting this species from Pakistan was illegal. In the lead-up to the hunt, the two agreed that, if successful, Bruce would present forged documents to U.S. officials, falsely identifying the Ladakh urial as a different species when bringing it into the United States.

    In December 2016, Bruce paid Ali $50,000 for the hunt. In April 2017, Bruce successfully shot the Ladakh urial. Between 2017 and 2018, Bruce made several trips between the U.S. and Pakistan to facilitate the illegal smuggling of the trophy.

    On March 29, 2018, Bruce arrived at San Francisco International Airport from Pakistan with eight hunting trophies in his baggage, including the Ladakh urial. He was stopped by U.S. Customs and Border Protection who alerted U.S. Fish and Wildlife Service officials.  Bruce presented forged export documents purporting to be issued by Pakistani authorities.

    Further investigation revealed that, between 2013 and 2018, at least 25 people who had hunted with Ali’s company presented forged documents to import at least 97 hunting trophies into the United States.

    The U.S. Fish and Wildlife Service Office of Law Enforcement conducted the investigation.

    Related Press Release: Eastern District of California | Galt Big Game Hunter Pleads Guilty to Conspiring to Smuggle an Endangered Ladakh Urial Trophy into the United States | United States Department of Justice

    United States v. Jeremy Pierce, et al.

    • No. 4:24-CR-00240 (District of Idaho)
    • ECS Senior Trial Attorney Cassie Barnum
    • RCEC Karla G. Perrin

    On January 7, 2025, Jeremy Pierce pleaded guilty to a felony violation of the Clean Air Act for tampering with a monitoring device (42 U.S.C. § 7413(c)(2)(C)). Pierce admitted to being involved in deleting and tuning vehicles at Gorilla Performance, a repair shop in Rexburg, Idaho, owned by his brother, Barry Pierce. Sentencing is set for March 26, 2025.

    In addition, Jeremy Pierce’s company, Pierce Diesel Performance, pleaded guilty to conspiracy to violate the Clean Air Act for providing technical support to customers nationwide who purchased tuning devices and tunes from Barry Pierce’s company, Gorilla Diesel Performance (18 U.S.C. § 371).

    The U.S. Environmental Protection Agency Criminal Investigation Division conducted the investigation.

    United States v. Andres Alejandro Sanchez

    • No. 24-CR-01264 (Southern District of Texas)
    • AUSA Tory Sailer
    • Assistance from ECS Senior Counsel Elinor Colbourn

    On January 10, 2025, Andres Alejandro Sanchez pleaded guilty to violating the Lacey Act for illegally importing a spider monkey into the United States (16 U.S.C. §§ 3372(a)(1), 3373(d)(2)).

    On October 7, 2024, Sanchez travelled from Mexico to Laredo, Texas, and failed to declare a spider monkey he had in his vehicle to Customs and Border Protection officers as he attempted to cross the border.

    The U.S. Customs and Border Protection, Homeland Security Investigations, and U.S. Fish and Wildlife Service Office of Law Enforcement conducted the investigation. 

    United States v. Ruben Montes, et al.

    • No. 23-CR-02377 (Southern District of California)
    • ECS Assistant Chief Steve DaPonte
    • AUSA Elizabet Brown

    On January 16, 2025, Ruben Montes pleaded guilty to conspiring to smuggle and distribute more than $3 million worth of Mexican pesticides and veterinary drugs that are not approved for use in the United States (18 U.S.C. § 371). Sentencing is scheduled for April 2, 2025.

    Beginning in November 2020, Montes coordinated the smuggling of pesticides and veterinary drugs from Mexico into the United States. Montes smuggled these chemicals and drugs into the country and distributed them within the United States. The primary pesticides involved were Taktic and Bovitraz, which are not registered with the U.S. Environmental Protection Agency for use in the United States. The smuggled veterinary drugs included Tylocet, Terramicina, Tetragent Ares, and Catarrol, which are not approved by the U.S. Food and Drug Administration for use in the United States.

    Montes and others stored the pesticides and veterinary drugs in storage units in Calexico to distribute them throughout the United States.

    Homeland Security Investigations, the U.S. Environmental Protection Agency Criminal Investigations Division, the U.S. Food and Drug Administration Office of Criminal Investigations, and the California Department of Toxic Substances Control conducted the investigation.

    United States v. Donnametric Miller, et al. 

    • No. 1:24-CR-00005 (Middle District of Georgia)
    • ECS Senior Trial Attorney Ethan Eddy
    • ECS Trial Attorney Leigh Rende
    • ECS Law Clerk Amanda Backer

    On January 21, 2025, Donnametric Miller pleaded guilty to conspiring to violate the Animal Welfare Act and transporting and possessing a dog for the purpose of having the dog participate in an animal fighting venture. Miller also pleaded guilty to being a felon in possession of a firearm (7 U.S.C. §§ 2156(b), (a)(1); 18 U.S.C. §§ 371, 922, 924). Miller is the fourteenth and final defendant to plead guilty in a dog fighting case involving participants from several states. Co-defendants Terelle Ganzy and Terrance Davis pleaded guilty to conspiracy and participating in an animal fighting venture.

    On November 22, 2024, co-defendants Fredricus White, Brandon Baker, Rodrecus Kimble, Tamichael Elijah, Timothy Freeman, Gary Hopkins, and Marvin Pulley entered guilty pleas for their involvement in a large-scale dog fighting event that was disrupted while in progress on April 24, 2022, in Donalsonville, Georgia. White and Baker pleaded guilty to conspiracy and possessing and transporting a dog for animal fighting purposes. Freeman pleaded guilty to being a spectator at the event, and Kimble, Elijah, Hopkins, and Pulley pleaded guilty to conspiracy. On December 16, 2024, Herman Buggs pleaded guilty to conspiracy.

    Prosecutors charged a total of 14 defendants who traveled from  southwest Georgia, Alabama, and Florida to participate in this event. Agents recovered 27 dogs, including 22 who were found in cars on the scene and had either already been fought, or whose handlers were awaiting their turn in the pit. Agents found one dog still in the fighting pit, who later succumbed to his injuries, as well as others living on the property who were owned by the event host.

    The U.S. Department of Agriculture and the Seminole County, Georgia, Sheriff’s Office conducted the investigation.

    United States v. J.H. Baxter & Co., Inc. et al.

    • No. 6:24-CR-00441 (District of Oregon)
    • ECS Trial Attorney Rachel M. Roberts
    • ECS Trial Attorney Stephen J. Foster
    • AUSA William M. McLaren
    • RCEC Karla G. Perrin
    • ECS Paralegal Maria Wallace
    • Former ECS Paralegal Samantha Goins

    On January 22, 2025, J.H. Baxter & Co., Inc., and J.H. Baxter & Co., a California Limited Partnership (collectively “J.H. Baxter”) both pleaded guilty to charges of illegally treating hazardous waste and knowingly violating the Clean Air Act (CAA) (42 U.S.C. § 6928(d)(2)(A); 42 U.S.C. § 7413(c)(2)). The companies’ president, Georgia Baxter-Krause, pleaded guilty to two counts of making false statements in violation of the Resource Conservation and Recovery Act (RCRA) (42 U.S.C. § 6928 (d)(3)). Sentencing is scheduled for April 22, 2025.

    J.H. Baxter used hazardous chemicals to treat and preserve wood at its Eugene facility. The wastewater from the wood preserving processes was hazardous waste. The company operated a wastewater treatment unit to treat and evaporate the waste. Over the years, however, when the facility accumulated too much water on site, employees transferred this water to a wood treatment retort to “boil it off,” greatly reducing the volume. J.H. Baxter would then remove the waste that remained, label it as hazardous waste, and ship it offsite for disposal.

    J.H. Baxter did not have  a RCRA permit to treat its waste in this manner. Additionally, the facility was subject to CAA emissions standards. Company employees were directed to open all vents on the retorts, allowing discharge to the surrounding air.

    State inspectors requested information about J.H. Baxter’s practice of boiling off hazardous wastewater. On two separate occasions (September 28 and 30, 2020), Baxter-Krause made false statements in response to these requests regarding the dates the practice took place, and which retorts were used. The investigation determined that Baxter-Krause knew J.H. Baxter maintained detailed daily production logs for each retort.

    From approximately January to October 2019, J.H. Baxter boiled off hazardous process wastewater in its wood treatment retorts on 136 known days. Baxter-Krause was also aware that during this time J.H. Baxter used four of its five retorts to boil off wastewater.

    The U.S. Environmental Protection Agency Criminal Investigation Division conducted the investigation with assistance from the Oregon Department of Environmental Quality and the Oregon State Police.

    Related Press Release: District of Oregon | J.H. Baxter Wood Treatment Companies and President Plead Guilty to Hazardous Waste and Air Pollution Charges | United States Department of Justice

    United States v. Giancarlo Morelli, et al.

    • No. 1:24-CR-00066 (Southern District of Ohio)
    • ECS Senior Trial Attorney Adam Cullman
    • AUSA Tim Oakley
    • ECS Paralegal Jonah Fruchtman

    On January 27, 2025, Giancarlo Morelli pleaded guilty to conspiring with others to create and distribute videos depicting the torture of monkeys (known as animal “crush” videos) (18 U.S.C. § 371).

    Prosecutors charged Morelli, along with Nicholas Dryden and Philip Colt Moss, with various crimes related to these videos. The indictment states that Dryden commissioned videos from a 17-year-old in Indonesia who was willing to commit specified acts of torture on video in exchange for payment. Dryden utilized Telegram, a cross-platform messaging app that includes encrypted group messaging and private chats, to advertise the animal crush videos and solicit funding for additional videos. Within these private groups, Dryden shared snippets of videos that he commissioned and advertised that the full content was for sale.

    Moss and Morelli each sent money to Dryden more than a dozen times in exchange for monkey torture videos. Thereafter, they frequently gave feedback on the videos and Morelli sometimes suggested torturous acts he’d like to see in future videos.

    The U.S. Fish and Wildlife Service and the Federal Bureau of Investigation conducted the investigation.

    Related Press Release: Southern District of Ohio | New Jersey man pleads guilty to conspiracy charge related to videos depicting monkey torture & mutilation | United States Department of Justice

    Sentencings

    United States v. Todd Campbell

    • No. 3:24-CR-01972 (Southern District of California)
    • AUSA Edward Chang

    On January 2, 2025, a court sentenced Todd Campbell to complete a 12-month term of probation and pay $8,808 in restitution to the U.S. Environmental Protection Agency. Campbell pleaded guilty to failure to declare merchandise for inspection (19 U.S.C. §§ 1433 (b)(2), 1436).

    On September 3, 2024, Campbell drove his vehicle into the United States from Mexico at the San Ysidro Port of Entry. Inside his vehicle, he was carrying seven 30-pound cylinders of R-22 refrigerant, which he intentionally failed to declare for inspection. As a result of Campbell’s actions, the EPA was forced to properly dispose of the refrigerant, incurring a cost of $8,808.

    The U.S. Environmental Protection Agency Criminal Investigation Division and Homeland Security Investigations conducted the investigation.

    United States v. Bryan Gosman, et al.

    • No. 2:21-CR-00217 (Eastern District of New York)
    • ECS Trial Attorney Christopher Hale
    • ECS Senior Trial Attorney Ken Nelson
    • Former ECS Paralegal Samantha Goins
    • ECS Paralegal Jonah Fruchtman

    On January 6, 2025, a court ordered Christopher Winkler to pay $725,000 in restitution to the New York State Marine Resources Account of the Conservation Fund. The court also ordered Bryan and Asa Gosman to pay a combined restitution amount of $247,297 to the same fund. All three defendants—Winkler, Asa Gosman, and Bryan Gosman—are jointly and severally liable for $247,297 in restitution. Winkler alone is responsible for paying $477,703 to the fund, bringing his total restitution amount to $725,000.

    In November 2024, a court sentenced Bryan and Asa Gosman to two years of probation, noting their “extraordinary cooperation” as the basis for the probation sentence.

    In October 2023, after a three-week trial, a jury found Christopher Winkler guilty on all charges, including conspiracy, mail fraud, and obstruction of justice (18 U.S.C. §§ 371, 1341, 1519). Winkler, a commercial fisherman and captain of the F/V New Age, participated in a scheme to illegally overharvest fluke and black sea bass, violating federal fishing regulations. He conspired to commit mail fraud, falsified fishing logs to obstruct the National Oceanic and Atmospheric Administration (NOAA) and worked to undermine NOAA’s efforts to regulate fisheries. Winkler was sentenced to 30 months in prison and ordered to forfeit $725,000.

    Between 2014 and 2017, Winkler was involved in a scheme to illegally overharvest summer flounder (fluke) and black sea bass, exceeding both federal quotas and state trip limits. To conceal the overharvesting, he falsified Fishing Vessel Trip Reports (FVTRs) on at least 200 fishing trips. In total, Winkler and his co-conspirators illegally harvested approximately 200,000 pounds of fluke and black sea bass, with an estimated wholesale value of $750,000.

    Bryan and Asa Gosman, and the company they partially own, Bob Gosman Co., Inc., had previously pleaded guilty to their involvement in the fraud. The company was sentenced in December 2021 for its role in the illegal overharvesting operation. Under federal law, fishing captains are required to accurately report their catch on FVTRs submitted to NOAA, which relies on these reports to regulate fisheries and enforce sustainable fishing practices. Similarly, the first company to purchase fish from a fishing vessel must file a dealer report with NOAA.

    NOAA Office of Law Enforcement conducted the investigation. 

    United States v. Edwin Flores

    • No. 3:24-CR-00993 (Southern District of California)
    • ECS Assistant Chief Stephen DaPonte
    • Former AUSA Melanie Pierson

    On January 7, 2025, a court sentenced Edwin Flores to complete a one-year term of probation and to pay $2,900 in restitution to U.S. Customs and Border Protection. Flores pleaded guilty to conspiracy and failing to present merchandise for inspection by a customs officer (18 U.S.C. § 371).

    On April 18, 2024, Flores drove a vehicle across the U.S.-Mexico border with three 30-pound cylinders of HCFC-22 that he failed to present for inspection.

    The U.S. Environmental Protection Agency Criminal Investigation Division, Homeland Security Investigations, and Customs and Border Protection conducted the investigation.

    United States v. Jun Liang, et al.

    • No. 4:23-CR-00013 (District of Alaska)
    • AUSA Steve Skrocki
    • AUSA Carly Sue Vosacek

    On January 13, 2025, a court sentenced Jun “Harry” Liang to time served (110 days), followed by two years’ supervised release. Liang also will pay a $10,060 fine and $9,100 in restitution to the Bureau of Land Management.

    Prosecutors charged Liang and Brian Phelan for participating in an illegal big-game guide-outfitter operation. Between August 2021 and August 2022, Liang and Phelan conspired to provide guide-outfitter services for caribou and brown bear hunts in Fairbanks, Alaska, without the required state licenses to do so.

    Liang posted advertisements on the ‘Little Red Book’ social media site offering guiding and outfitting services for big-game hunts out of Fairbanks, Alaska. Interested hunters sent deposits to Liang, who promised to locate and scout trophy animals that could be transported out of state. However, neither Liang nor Phelan possessed a State of Alaska big game guide-outfitter license. Liang fraudulently collected about $11,000 in 2021 and $60,000 in 2022, on behalf of himself and Phelan, for these guided hunts.

    Liang pleaded guilty to a Lacey Act false labeling violation (16 U.S.C. §§ 3372(d)(2), 3373(d)(3)(b)), for failing to obtain a special recreation permit and operating in Denali National Park without the necessary permit. Phelan was sentenced in December 2024 to pay a $2,000 fine and complete a 30-month term of probation after pleading guilty to violating the Lacey Act and Bureau of Land Management regulations.

    The U.S. Fish and Wildlife Service Office of Law Enforcement conducted the investigation, with assistance from the Alaska State Troopers Wildlife Investigations Unit.

    Related Press Release: District of Alaska | Chinese national sentenced in illegal wildlife guide-outfitter scheme | United States Department of Justice

    United States v. Joe Hofer

    • No. 4:24-CR-40091 (District of South Dakota)
    • AUSA Meghan Dilges

    On January 13, 2025, a court sentenced Joe Hofer to pay a $1,200 fine and complete a one-year term of probation for violating the Bald and Golden Eagle Protection Act (16 U.S.C. §§ 668(a), 668(c)).

    Hofer is the farm boss for the Cambridge Hutterian Brethren (CHB) in Lake County, South Dakota. In November 2023, Hofer used CHB farm equipment to take down trees on property owned by CHB. One of the trees Hofer took down contained an active eagle nest, which was destroyed. Hofer did not have a permit to take down the eagle’s nest.

    The U.S. Fish and Wildlife Service and South Dakota Game, Fish and Parks conducted the investigation.

    Related Press Release: District of South Dakota | Volga Man Sentenced for Violation of Bald and Golden Eagle Protection Act | United States Department of Justice

    United States v. Tracy Coiteux, et al.

    • No. 3:21-CR-05184 (Western District of Washington)
    • AUSA Seth Wilkinson
    • AUSA Cindy Chang
    • RCEC Karla G. Perrin

    On January 13, 2025, a court sentenced Racing Performance Maintenance Northwest (RPM) and a related sales company called RPM Motors and Sales NW (RPM Motors) to each pay $10,000 fines and to complete three-year terms of probation. In March 2024, RPM pleaded guilty to tampering with a monitoring device in violation of the Clean Air Act (CAA)(42 U.S.C. § 7413(c)(2)(C)) and RPM Motors pleaded guilty to conspiracy to violate the CAA (18 U.S.C. § 371).

    In November 2024, the court had sentenced the companies’ owners, Tracy Coiteux and Sean Coiteux, to each pay $10,000 fines, complete four-year terms of probation (to include four months’ home confinement) and perform 60 hours of community service. Sean Coiteux had pleaded guilty in March 2024 to tampering with a monitoring device in violation of the CAA (42 U.S.C. 7413(c)(2)(C)). In May 2024, Tracy Coiteux was convicted by a jury after a three-day trial on conspiracy to violate the CAA (18 U.S.C. § 371; 42 U.S.C. § 7413(c)(2)(C)).

    Between January 2018 and January 2021, the defendants directed employees to delete pollution control hardware on diesel trucks they sold or serviced. They also tampered with the trucks’ monitoring devices to avoid detection of the missing control equipment. The Coiteux’s companies charged between $1,000 and $2,000 for each modification. Over a three-year period, the defendants serviced close to 375 diesel trucks, collecting more than $500,000 for these illegal modifications.

    The U.S. Environmental Protection Agency Criminal Investigation Division conducted the investigation.

    United States v. Ryan Hugh Milliken, et al.

    • No. 2:24-CR-00057 (Eastern District of Washington)
    • AUSA Dan Fruchter
    • AUSA Jacob Brooks

    On January 22, 2025, a court sentenced Ryan Hugh Milliken and his company, Hardaway Solutions, LLC (Hardaway), after both pleaded guilty to conspiracy to violate the Clean Air Act (CAA) (18 U.S.C. § 371; 42 U.S.C. § 7413(c)(2)(C)). They both will complete five-year terms of probation, during which the company will be responsible for implementing an environmental compliance plan. Both defendants are jointly and severally responsible for paying a $75,000 fine.

    Between August 2017 and November 2023, Milliken and Hardway created and sold illegal “delete tune” packages designed to disable and defeat required emissions controls and monitoring systems. Milliken and Hardway created and sold these delete tune files for various customers and vehicles, including Spokane-based trucking companies —PT Express, LLC, Spokane Truck Service, LLC, and Pauls Trans, LLC—operated by co-defendant Pavel Ivanovich Turlak. Milliken created and sold custom software delete tunes to Turlak for vehicles based on specifications Turlak outlined. Turlak then charged as much as $3,500 to diesel truck owners to “delete” and “tune” their vehicles by tampering with their pollution monitoring devices. Turlak also fraudulently received more than $300,000 in federal funding designated for eligible small businesses during the pandemic.

    Turlak and his companies pleaded guilty in December 2024 to conspiring to illegally violate CAA emissions controls and to fraudulently obtaining hundreds of thousands of dollars in COVID-19 relief funding (42 U.S.C. § 7413 (c)(2)(C); 18 U.S.C. §§ 371, 1343, 287). Both  defendants are scheduled for sentencing on April 2, 2025.

    The U.S. Environmental Protection Agency Criminal Investigation Division conducted the investigation with assistance from the EPA National Enforcement Investigations Center, the Small Business Administration Office of Inspector General, and the Spokane Police Department.

    United States v. Mario Flythe, et al.

    • No. 23-CR-00354 (District of Maryland)
    • AUSA Alexander Levin
    • AUSA Darryl Tarver

    On January 23, 2025, a court sentenced Mario Flythe to six months incarceration followed by three years of supervised release, to include six months’ home detention. Flythe also will pay a $10,000 fine.

    Flythe pleaded guilty to conspiracy to engage in animal fighting, specifically the fighting of dogs, and interstate travel in aid of racketeering (18 U.S.C. §§ 371, 1952). Between November 2018 and September 2023, Flythe and co-defendant Frederick Douglass Moorfield, Jr., operated a kennel called “Razor Sharp Kennels,” using Flythe’s residence to keep, train, and breed fighting dogs.

    Flythe’s cellphone revealed numerous message exchanges regarding dogfighting—primarily over the instant messaging applications WhatsApp and Telegram—with members of a group known as the “DMV Board.” In addition to arranging dog fights and wagers, Flythe and the DMV Board discussed the breeding and training of fighting dogs, procuring supplies for the maintenance and feeding of fighting dogs, and criminal prosecutions of dogfighters. In some exchanges, Flythe and others discussed indictments of other members of the DMV Board and speculated about the identity of a potential “snitch.”

    Flythe’s instant messages also contained several exchanges in which he arranged dogfights. In those conversations, Flythe identified the weight and sex of the dog he wanted to sponsor in a fight. Other dogfighters then proposed a fight against their own dog or matched Flythe with another of their contacts who had a dog in the same weight class. The dogfighters would then agree on wagers and set a date for the fight, usually six to eight weeks after the match was made.

    On several occasions between 2019 and 2023, Flythe received monetary payments through CashApp related to his participation in dogfighting conduct. Flythe also sent money to dogfighting contacts in connection with the dogfighting enterprise.

    After executing a search of Flythe’s residence in September 2023, investigators recovered seven pit bull-type dogs from the premises. Four dogs were found chained to posts or poles in fenced-in cages in the property’s back yard, and three dogs were found in large metal cages in the basement.

    The Federal Bureau of Investigation, the Department of Defense Criminal Investigation Service, and the U.S. Department of Agriculture Office of Inspector General conducted the investigation.

    Related Press Release:  District of Maryland | Glen Burnie Man Sentenced to Federal Prison in Connection With Multi-State Dogfighting Conspiracy | United States Department of Justice

    United States v. Eurobulk Ltd., et al.

    • Nos. 2:24-CR-00655, 2:24-CR-00368 (Southern District of Texas)
    • ECS Senior Trial Attorney Kenneth Nelson
    • AUSA Liesel Roscher
    • AUSA John Marck
    • ECS Paralegal Maria Wallace

    On January 29, 2025, Eurobulk Ltd. pleaded guilty to a two-count information charging the company with violating the Act to Prevent Pollution from Ships (APPS) and obstruction of justice (33 U.S.C. § 1908(a); 18 U.S.C. § 1519). The court sentenced the company to pay a total criminal penalty of $1,500,000 and complete a four-year term of probation.

    Eurobulk operated the M/V Good Heart, which transported bulk cargo worldwide. On April 29, 2023, the U.S. Coast Guard conducted a Port State Control examination of the vessel and received information from a whistleblower about illegal discharges of oil from the vessel. On at least two occasions in April 2023, the vessel’s crew discharged oily waste directly overboard from a space known as the “duct keel.” These discharges were not recorded in the oil record book (ORB). The crew also flushed the oil content meter with fresh water to ensure the oil water separator would allow the illegal overboard discharges. The crew failed to record these actions in the ORB, which obstructed the investigation. Christos Charitos, the vessel’s chief engineer, was sentenced in September 2024 to pay a $2,000 fine and complete a one-year term of probation after pleading guilty to violating APPS.

    The U.S. Coast Guard conducted the investigation.

    Related Press Release: Southern District of Texas | Foreign operator of bulk carrier convicted for concealment of pollution and falsification of records | United States Department of Justice

    View All Environmental Crimes Bulletins

    MIL Security OSI –

  • MIL-OSI: Cenovus to hold fourth-quarter and full-year conference call and webcast on February 20

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Feb. 13, 2025 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its fourth-quarter and full-year 2024 results on Thursday, February 20, 2025. The news release will provide consolidated fourth-quarter operating and financial information. The company’s financial statements will be available on Cenovus’s website, cenovus.com.

    Conference call: 9 a.m. MT (11 a.m. ET)

    To join the conference call, please dial 1-800-206-4400 (toll-free in North America) or 1-289-514-5005 to reach a live operator who will place you into the call.

    It is recommended that participants dial in at least 10 minutes before the conference call begins.
    A live audio webcast will also be available and archived for approximately 30 days.

    Cenovus Energy Inc.

    Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The company is focused on managing its assets in a safe, innovative and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Cenovus common shares and warrants are listed on the Toronto and New York stock exchanges, and the company’s preferred shares are listed on the Toronto Stock Exchange. For more information, visit cenovus.com.

    Find Cenovus on Facebook, LinkedIn, YouTube and Instagram.

    Cenovus contacts:

    Investors Media
    Investor Relations general line
    403-766-7711    		 Media Relations general line
    403-766-7751

    The MIL Network –

  • MIL-OSI Submissions: Australia – Celebs, polis feature in new book about migrant journeys – AMES

    Source: AMES

    SA Premier Peter Malinauskas, former Socceroo Archie Thompson and leading contemporary artist Saidin Salkic feature in a new book that tells the stories of second-generation migrant Australians.

    Titled ‘At the Heart of Identity’, the book is a collection of reflections from Australians who share their families’ settlement journeys and their own search for identity.

    It includes inspirational and heart-wrenching stories of migrant families as well as the sense of hope and opportunity that characterises Australia’s migration history.

    Contributors include South Australian Premier Peter Malinauskas, whose family hails from Lithuania, and former Socceroo Archie Thompson, who has a New Zealand-born father and mother from Papua New Guinea.

    Also sharing their stories are federal MP Cassandra Fernando, whose parents are from Sri Lanka, and Victorian state MP Lee Tarlamis, who has Greek heritage.

    Artist Saidin Salkic, whose father was victim of the Srebrenica massacre in Bosnia, is also a contributor, along with others from Africa, Kurdistan, Vietnam, Malta, Yugoslavia, Burma, Italy and Ukraine.

    Launched in Parliament House, Canberra, this week as part of migrant and refugee settlement agency AMES Australia’s annual ‘Heartlands’ cultural project, the book is a reflection of Australia’s long and diverse history as a nation of migrants.

    AMES CEO Cath Scarth said the book was timely at a point in history when polarisation and divisiveness are on the rise across the globe.

    “Stories of settlement in Australia, no matter where you have come from, are things that unite us,” Ms Scarth said.

    “These stories are reflection of how migrants have helped to build Australia and helped to create the successful brand of multiculturalism we enjoy along with the high levels of social cohesion that we have built,” she said.

    One of the contributors is Carmen Capp-Calleya, who came to Australia from Malta with her parents in 1958 – surviving a shipwreck along the way.

    “The tragic incident, the first major shipping disaster since the end of WW11, had an enduring impact on me and my family. It left us with an indelible sense that we were indeed migrants who had crossed the seas to make a new life,” she says in the book.

    Former Socceroo Archie Thompson tells of his trouble childhood.

    “I grew up in country town in NSW and I was pretty much the only dark-skinned kid in town. That made things difficult at times, but I was able to find a community through football,” he says.

     

    SA Premier Peter Malinauskas’ family came to Australia in 1949 escaping war-torn Europe.

    “When my grandparents got married, they bought a block of land on Trimmer Parade, Seaton, where they built their home and, for many years, operated a fish and chip shop. I distinctly remember as a young boy standing at that fish and chip shop my grandfather built with his own bare hands as he told me about the importance of taking opportunities,” he says.

    Federal MP Cassandra Fernando tells of growing up in a vibrant multicultural community.

     

    “I loved the diversity in South-East Melbourne, a cultural melting pot of Greeks, Italians, Vietnamese, and more. Here, I learned the true meaning of community as people from

    different backgrounds came together,” she says.

     

    Victorian MP Lee Tarlamis tells of reconnecting with his heritage.

     

    “I became determined to reconnect with Greek culture. Embracing both the Greek community and my wife’s Vietnamese culture helped me value diversity and the importance of preserving it,” he says in the book.

     

    Park Ranger James Brincat, whose parts came from Malta in the 1950s, says racism was part of his childhood.

     

    “Growing up in a migrant family was challenging due to racism and being unsure of my identity because of the media’s mixed messages. These experiences strengthened me and now guide my work with refugee communities,” he says.

               

    Architect and artist Maru Jarockyj’s parents fled Ukraine after WWII and settled in the UK. She came to Australia as a young woman.

     

    “Russia’s illegal invasion of Ukraine and the subsequent devastating war has sparked some deep latent emotions in me and reignited a sense of patriotism. Ukrainian culture

    has always been important to me, and I’ve been involved in folk music and art throughout my life,” she says.

    MIL OSI – Submitted News –

  • MIL-OSI Global: Like dictators before him, Trump threatens international peace and security

    Source: The Conversation – Canada – By Sabine Nolke, Research Associate in International Law, Western Academy for Advanced Research, Western University

    At first, Canadians just shook their collective heads when United States President Donald Trump suggested Canada become the 51st American state.

    They rolled their eyes when he posted a fake image of himself standing next to a Canadian flag amid snowy mountaintops — in actuality, the Swiss Alps.

    Another Trump post showed a map purporting to merge Canada and the U.S. That prompted Prime Minister Justin Trudeau to respond on social media that there was not a “snowball’s chance in hell” that Canadians would soon become Americans.

    Meme wars are one thing, but in the real world, threatening the sovereignty and territorial integrity of a foreign state is quite another. Canadian leaders have stopped laughing, and they now need to situate Trump’s dangerous rhetoric in the language of international law and state-to-state relations.

    As a former Canadian ambassador to the Netherlands, and a permanent representative to the Organization for the Prohibition of Chemical Weapons and international courts and tribunals in The Hague, I know language matters.

    Trump’s threats make it an opportune time to provide a brief snapshot of the historical context for Trump’s rhetoric, and the necessary 21st-century vocabulary with which to respond and shape the public discourse.

    Manifest Destiny

    In threatening hefty tariffs on Canada, Trump cited the flow of fentanyl over the Canada-U.S. border, but it was clear it had little to do with fentanyl, particularly since so little crosses the border into the U.S. Instead, it seems he is coming for Canada’s sovereignty as an independent state.

    When asked on Feb. 3 how Canada could ward off tariffs, Trump reiterated: “What I’d like to see is Canada become our 51st state.”

    Later that same day, Trump paused tariffs on Canada, ostensibly thanks to border measures that Canada, like Mexico, had already announced. But what is still being said by the president of one of the most powerful nations on Earth cannot be unsaid.

    At a Jan. 7 news conference, Trump called the border between Canada and the U.S. an “artificially drawn line” — echoing rhetoric deployed by Vladimir Putin as justification for Russia’s aggression against Ukraine. His remarks, in fact, were gleefully retweeted by Russia’s propaganda channel RT.

    Putin claims the Ukrainian border is the result of “administrative” action under the former Soviet Union, while Trump appears to be invoking the 19th century American concept of “Manifest Destiny.”

    He used the phrase verbatim in his inaugural address in the context of planting a flag on Mars, but it is entirely consistent with his plans for, and rhetoric on, Canada.

    As John O’Sullivan, the American diplomat who coined the phrase, wrote in a 1845 article entitled Annexation, it’s America’s destiny to “overspread the continent.” Trump appears to be taking that idea to heart.

    ‘The free white race’

    Arguably the biggest fan of territorial expansion in the 20th century was Adolf Hitler, architect of the Third Reich. Trump reportedly has some of Hitler’s writings on his bedside table. Hitler had this to say in Chapter 4 of Mein Kampf:

    “The extent of the national territory is a determining factor in the external security of the nation. The larger the territory which a people has at its disposal, the stronger are the national defences of that people.”

    Sound familiar?

    But why Canada and not Mexico, you may ask? Likely because he considers Canada less racialized, even though modern-day Canada has a large multicultural population.



    Read more:
    Trump has put down his racist dog whistle and picked up a bull horn

    In 1848, however, in the midst of the American expansionist era, pro-slavery South Carolina Sen. John Calhoun said:

    “We have never dreamt of incorporating into our Union any but the Caucasian race — the free white race. To incorporate Mexico, would be the very first instance of the kind, of incorporating an Indian race; for more than half of the Mexicans are Indians, and the other is composed chiefly of mixed tribes. I protest against such a union as that! Ours, sir, is the Government of a white race.”

    In short, neither the context nor the history informing Trump’s designs on Canada are reassuring for Canadians.

    Rules still matter

    Trump’s dismissive approach to established borders ignores fundamental norms and principles on the sovereignty, equality and territorial integrity of states, codified following the Second World War in the Charter of the United Nations. Canada is a founding member of the UN; its status as a sovereign state is not subject to challenge under international law.

    The charter clearly states that “all Members shall refrain in their international relations from the threat or use of force against the territorial integrity or political independence of any state, or in any other manner inconsistent with the purposes of the United Nations.”

    Similarly, the North Atlantic Treaty obliges NATO member states to “refrain in their international relations from the threat or use of force in any manner inconsistent with the purposes of the United Nations.”



    Read more:
    Allies or enemies? Trump’s threats against Canada and Greenland put NATO in a tough spot

    Trump has said he will use “economic force” to annex Canada. The suggestion that an economically devastated Canada could be sufficiently brought to heel has been embraced by the so-called MAGA-sphere, including an influential blogger with ties to Russia.

    International law

    Threatening economic rather than military force does not make Trump’s efforts at subjugating Canada any more acceptable in terms of international law.

    In 1970, in the UN’s Declaration on Principles of International Law Concerning Friendly Relations and Co-Operations Among States, the UN General Assembly unanimously confirmed that “no state may use … economic, political or any other type of measures to coerce another state in order to obtain from it the subordination of its exercise of its sovereign rights.” While not legally binding, this declaration represents customary international law.

    In 1986, the International Court of Justice ruled in Nicaragua v, United States that:

    “A prohibited intervention must accordingly be one bearing on matters in which each State is permitted, by the principle of State sovereignty, to decide freely. One of these is the choice of a political, economic, social and cultural system, and the formulation of foreign policy. Intervention is wrongful when it uses methods of coercion in regard to such choices, which must remain free ones.”

    Keeping score

    It’s both right and righteous for our elected leaders to say that Canada will never be the 51st state.

    But the time has come, especially in the context of Trump’s threats to buy Greenland, seize the Panama Canal and turn Gaza into a Middle Eastern Riviera, to call out his threats to Canada.

    Amid Trump’s dizzying litany of outlandish pronouncements, Canada’s leaders must keep track of what Trump’s declarations represent:

    • A threat to international peace and security;
    • A threat to the sovereignty and territorial integrity of Canada;
    • Unlawful coercion and intervention in the affairs of a sovereign state;
    • A breach of the UN Charter;
    • A breach of the North Atlantic treaty.

    Trump’s threats are no way to treat an ally, but unfortunately for him, international law is on Canada’s side.

    Sabine Nolke does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Like dictators before him, Trump threatens international peace and security – https://theconversation.com/like-dictators-before-him-trump-threatens-international-peace-and-security-248735

    MIL OSI – Global Reports –

  • MIL-OSI New Zealand: Release: Paper mill closure adds to growing job losses

    Source: New Zealand Labour Party

    The Government has no plan to support workers as 230 more jobs are lost today with the closure of the Kinleith paper mill.

    “This is devastating news for the whole of the community and the many families who rely on the paper mill for income,” Labour employment spokesperson Willie Jackson said.

    “This is on top of the 33,000 people who have lost their jobs across Aotearoa in the last 12 months under National. That’s more than the entire population of Blenheim, without the dignity of meaningful mahi.

    “This is not good enough. Winston Peters promised that he would be an ‘advocate on your behalf’ and that ‘Kinleith Mill is the lifeblood of the Waikato’, yet here we are with another large employer closing its doors.

    “The community and workers of Tokoroa deserve more than false promises.

    “It’s a disgrace that the Government can sit idly by and let thousands of people lose their jobs, after promising they would help, and then let this happen,” Willie Jackson said.

    Stay in the loop by signing up to our mailing list and following us on Facebook, Instagram, and X.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Have you seen Dezray?

    Source: New Zealand Police (National News)

    Police are seeking the public’s assistance in locating 16-year-old Dezray who has been reported missing from the Mount Wellington area.

    Dezray was last seen on 19 January and is described as being 175cm tall with short brown hair and brown eyes.

    He is known to frequent the Auckland City, West Auckland and Northland areas.

    Police and Dezray’s family have concerns for his safety.

    We ask anyone who sights Dezray to please contact Police as soon as possible on 111.

    Additionally, anyone who has further information on his whereabouts should contact Police on 105, using the reference number 250121/4356.

    ENDS.

    Holly McKay/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Name release: Fatal crash, Mountain Road, Inglewood

    Source: New Zealand Police (National News)

    Police can now name the pedestrian who died following a crash on Mountain Road, Inglewood on 4 February.

    She was 63-year-old Jacqueline Deam, of Inglewood.

    Our thoughts are with those close to her at this difficult time.

    Enquiries into the circumstances of the crash remain ongoing.

    ENDS 

    Issued by Police Media Centre 

    MIL OSI New Zealand News –

  • MIL-OSI USA: Attorney General Bonta Sues Trump Administration, Challenging Elon Musk’s Unconstitutional Exercise of Power

    Source: US State of California Department of Justice

    Thursday, February 13, 2025

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    Musk was never elected, nominated, or confirmed — an affront to the U.S. Constitution

    OAKLAND — California Attorney General Rob Bonta today joined a coalition of 14 attorneys general in filing a lawsuit that challenges Elon Musk’s unlawful exercise of power. In today’s lawsuit, the attorneys general argue that Mr. Musk, an unconfirmed, unelected government employee, is exercising authority that exceeds what the U.S. Constitution permits. In his commanding of the Department of Government Efficiency (DOGE), the lawsuit alleges, Mr. Musk is acting with at least as much authority as a “principal officer of the United States” — a position that only Congress can create and one that requires Senate confirmation. The lawsuit alleges that, by acting as a “principal officer,” Mr. Musk is acting in violation of the U.S. Constitution’s Appointments Clause, and the coalition seeks to immediately halt this unlawful exercise of power. 

    “Elon Musk does not occupy a position that Congress created or that the Senate confirmed — Mr. Musk occupies a position the President made up. This is a clear and dangerous effort to bypass the nomination and confirmation process required under the Constitution. DOGE’s ransacking of federal agencies has sown tremendous chaos, instilled distrust among the American people, and has caused deep harm to our country,” said Attorney General Bonta. “Like a bull in a china shop, Mr. Musk is wielding an enormous amount of illegitimized power over sensitive systems and important government programs that are vital to the American way of life.”

    In the lawsuit filed today, the attorneys general argue that Mr. Musk has unraveled federal agencies, accessed sensitive data, and caused widespread disruption for state and local governments, as well as critical systems American people rely on daily. By disrupting billions of dollars in federal funding essential for law enforcement, healthcare, education, and other critical services, Mr. Musk’s actions harm the states, including California. 

    In filing today’s lawsuit, Attorney General Bonta joins the attorneys general of New Mexico, Arizona, Michigan, Connecticut, Hawaii, Maryland, Massachusetts, Minnesota, Nevada, Oregon, Rhode Island, Vermont, and Washington.  

    A copy of the complaint can be found here. 

    # # #

    MIL OSI USA News –

  • MIL-OSI: Prestige Wealth Inc. Announces First Half of Fiscal Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, Feb. 13, 2025 (GLOBE NEWSWIRE) — Prestige Wealth Inc. (Nasdaq: PWM) (the “Company” or “Prestige Wealth”), a wealth management and asset management services provider based in Hong Kong, today announced its unaudited financial results for the six months ended March 31, 2024.

    Mr. Kazuho Komoda, the Company’s Chief Executive Officer, commented, “Reflecting upon the first half of fiscal year 2024, we made many strategic layouts including exploring the path of using technology method to scale up wealth management business, preparing for expanding business areas and actively seeking talents for business upgrade. Meanwhile, we also maintain stable growth in our existing business and garnered an increase of our total revenues from compared to the same period of fiscal year 2023.”

    Mr. Komoda continued, “Benefited from our efforts and status of listed company, we have access to better business resources, advanced technology, and financing capabilities to hedge against negative macroeconomic impacts. In fact, we have also made many significant strategic initiatives in fiscal year 2024, including acquisitions and post IPO financing. This presents us with immense opportunities, and we want to assure our clients and shareholders that we are in prime position to harness these prospects. We will continue to strive to create value for all shareholders.”

    First Half of Fiscal Year 2024 Financial Results

        For the Six Months Ended March 31,  
        2024     2023     Change     Change  
        USD     USD     USD     %  
        (Unaudited)     (Unaudited)              
    Selected Unaudited Interim Condensed Consolidated Statements of Income Data:                        
    Net revenues   497,629     312,964     184,665     59.01  
    Operation cost and expenses   (1,105,629 )   (311,871 )   793,758     254.51  
    (Loss) Income from operations   (608,000 )   1,093     (609,093 )   (55,726.72 )
    Other income   118,580     3,335     115,245     (3,455.59 )
    (Loss) Income before income taxes   (489,420 )   4,428     (493,848 )   (11,152.85 )
    Income taxes (expenses) benefits   (14,009 )   21,132     (35,141 )   (166.29 )
    Net (loss) income   (503,429 )   25,560     (528,989 )   (2,069.60 )
    (Loss) Earnings per ordinary share – basic and diluted   (0.055 )   0.003     (0.058 )   (1,933.33 )
                             

    Net Revenues

    Net revenues were $497,629 in the six months ended March 31, 2024, compared to $312,964 in the six months ended March 31, 2023. The increase was primarily due to increase in net revenue from asset management services, partially offset by the decrease in net revenue from wealth management services.

    • Net revenue from wealth management services was $11,685 in the six months ended March 31, 2024, compared to $74,875 in the six months ended March 31, 2023. The decrease was primarily due to the decrease number of cases of referrals.
    • Net revenue from asset management services was $485,944 in the six months ended March 31, 2024, increased from $238,089 in the six months ended March 31, 2023. The increase was primarily due to the Company provided asset management related advisory services to new client.

    Operating Costs and Expenses

    Operating costs and expenses are primarily comprised of selling, general and administrative expenses. Selling, general and administrative expenses were $1,105,629 in the six months ended March 31, 2024, compared to $311,871 in the six months ended March 31, 2023. The increase in selling, general and administrative expenses was mainly due to the increases in wages & salaries from senior management, depreciation of right-of-use assets and audit fee.

    (Loss) Income from operations

    Loss from operations was $608,000 in the six months ended March 31, 2024, compared to an income from operations of $1,093 in the six months ended March 31, 2023.

    Income Tax (Expenses) Benefits

    Income tax expenses were $14,009 in the six months ended March 31, 2024, compared to an income tax benefit of $21,132 in the six months ended March 31, 2023, primarily because the Company had net taxable profits from one of its subsidiaries.

    Net (Loss) Income

    Net loss was $503,429 in the six months ended March 31, 2024, compared to a net income of $25,560 in the six months ended March 31, 2023.

    Basic and Diluted Earnings per Share

    Basic and diluted loss per share was $0.055 in the six months ended March 31, 2024, compared to basic and diluted earnings per share $0.003 in the six months ended March 31, 2023.

    Balance Sheet

    As of March 31, 2024, the Company had cash and cash equivalents of $294,548, compared to $431,307 as of September 30, 2023.

    Cash Flow

    Net cash used in operating activities was $2,995,580 in the six months ended March 31, 2024, compared to net cash provided by operating activities of $454,660 in the six months ended March 31, 2023, mainly due to increase in prepayment.

    Net cash used in investing activities was $2,862,641 in the six months ended March 31, 2024, compared to net cash provided by investing activities of $1,414,297 in the six months ended March 31, 2023, due to decease in loan and interest repayment from a related party.

    Net cash used in financing activities was $nil in the six months ended March 31, 2024, compared to net cash used by investing activities of $545,499 in the six months ended March 31, 2023, due to decease in deferred offering cost.

    Recent Accounting Pronouncements

    On November 27, 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 is designed to improve the reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the CODM. All public entities will be required to report segment information in accordance with the new guidance starting in annual periods beginning after December 15, 2023, with early adoption permitted. The Group is currently evaluating the impact of adopting the standard and does not expect that the adoption of this guidance will have a material impact on its financial position, results of operations and cash flows.

    In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 expands existing income tax disclosures for rate reconciliations by requiring disclosure of certain specific categories and additional reconciling items that meet quantitative thresholds and expands disclosures for income taxes paid by requiring disaggregation by certain jurisdictions. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Group is currently evaluating the impact of adopting the standard and does not expect that the adoption of this guidance will have a material impact on its financial position, results of operations and cash flows.

    Recent Developments

    On November 4, 2024, the Company completed its acquisition of all shares of SPW Global Inc., a company incorporated under the laws of the British Virgin Islands, which in turn wholly owns Wealth AI PTE LTD. or Wealth AI, a company incorporated under the laws of Republic of Singapore. Wealth AI is a company based in Singapore that offers personalized, cost-effective wealth management solutions using artificial intelligence. Founded by AI experts from top technology companies in 2022, Wealth AI is dedicated to the transformative potential of artificial intelligence in wealth management.

    On December 16, 2024, the Company completed its acquisition of all shares of InnoSphere Tech Inc. (“InnoSphere Tech”), a company incorporated under the laws of the British Virgin Islands. InnoSphere Tech is a technology company that leverages its advantages in web scraping technology to collect data on finance, wealth management, and related industries according to international standards. Through the accumulation and processing of large amounts of data, its system can train a specialized large model tailored for the wealth management industry, providing robust foundational support to clients in the financial sector that surpasses traditional general-purpose large models.

    On December 16, 2024, the Company also completed its acquisition of all shares of Tokyo Bay Management Inc. (“Tokyo Bay”), a company incorporated under the laws of the British Virgin Islands. Tokyo Bay is a company based in Tokyo, Japan. Founded by experienced professionals, the Tokyo Bay team has accumulated extensive premium client resources and local market knowledge over the past years, providing wealth management services, family affairs services, lifestyle management services and related value-added services to high-net-worth clients in Japan.

    About Prestige Wealth Inc.

    Prestige Wealth Inc. is a wealth management and asset management services provider based in Hong Kong, assisting its clients in identifying and purchasing well-matched wealth management products and global asset management products. With a focus on quality service, the Company has retained a loyal customer base consisting of high-net-worth and ultra-high-net-worth clients in Asia. Through the Company’s wealth management service, it introduces clients to customized wealth management products and provides them with tailored value-added services. The Company provides asset management services via investment funds that it manages and also provides discretionary account management services and asset management-related advisory services to clients. For more information, please visit the Company’s website: http://ir.prestigewm.hk/index.html.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    PRESTIGE WEALTH INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
        March 31,
    2024    		     September 30,
    2023    		  
        (Unaudited)        
    CURRENT ASSETS                
    Cash and cash equivalents   $ 294,548     $ 431,307  
    Restricted cash     200,000       200,000  
    Accounts receivable     350,826       273,257  
    Contract asset     3,002       91,565  
    Note Receivables     1,037,199       3,755,794  
    Amounts due from related parties     1,619,590       1,592,593  
    Right-of-use assets, current     213,978       213,814  
    Income tax receivable     45,783       29,279  
    Prepaid expenses and other assets     2,765,857       66,484  
    Total current assets     6,530,783       6,654,093  
                     
    NON-CURRENT ASSETS                
    Right-of-use asset, non-current   $ 42,247     $ 140,898  
    Prepaid expenses and other assets     68,672       68,620  
    Total non-current assets   $ 110,919     $ 209,518  
    Total assets   $ 6,641,702     $ 6,863,611  
                     
    LIABILITIES AND SHAREHOLDERS’ EQUITY                
    Current Liabilities                
    Income tax payable   $ 37,345     $ 27,648  
    Lease liability, current     237,535       220,101  
    Amounts due to related parties     190,844       —  
    Deferred tax liabilities     11,858       14,415  
    Other payables and accrued liabilities     435,228       257,906  
    Total current liabilities   $ 912,810     $ 520,070  
                     
    NON-CURRENT LIABILITIES                
    Lease liability, non-current   $ 49,095     $ 160,996  
    Total non-current liabilities   $ 49,095     $ 160,996  
    Total liabilities   $ 961,905     $ 681,066  
                     
    Shareholders’ equity                
    Ordinary share ($0.000625 par value, 1,600,000,000 shares authorized, 9,150,000 shares issued and outstanding as of March 31, 2024; $0.000625 par value, 160,000,000 shares authorized, 9,150,000 shares issued and outstanding as of September 30, 2023)*   $ 5,719     $ 5,719  
    Additional paid in capital     2,570,664       2,570,664  
    Retained earnings     3,139,565       3,642,994  
    Accumulated other comprehensive loss     (36,151 )     (36,832 )
    Total shareholders’ equity   $ 5,679,797     $ 6,182,545  
    Total liabilities and shareholders’ equity   $ 6,641,702     $ 6,863,611  
                     
    * The shares are presented on a retroactive basis to reflect the Company’s share subdivision on July 15, 2022.                
                     
    PRESTIGE WEALTH INC.
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
        For the six months ended
    March 31,    		  
        2024     2023  
        (Unaudited)     (Unaudited)  
    Net revenue            
    Wealth management services            
    Referral fees   $ 11,685     $ 74,875  
                     
    Asset management services                
    Advisory service fees     459,974       212,486  
    Management fees     25,970       25,603  
    Subtotal     485,944       238,089  
    Total net revenue     497,629       312,964  
                     
    Gross Margin     497,629       312,964  
                     
    Operation cost and expenses                
    Selling, general and administrative expenses     1,105,629       311,871  
    Total operation cost and expenses     1,105,629       311,871  
                     
    (Loss) Income from operations     (608,000 )     1,093  
                     
    Other income     118,580       3,335  
                     
    (Loss) Income before income taxes     (489,420 )     4,428  
    Income taxes (expenses) benefits     (14,009 )     21,132  
                     
    Net (loss) income   $ (503,429 )   $ 25,560  
                     
    Other comprehensive (loss) income                
    Foreign currency translation adjustment     681       6,016  
    Total comprehensive (loss) income   $ (502,748 )   $ 31,576  
                     
    (Loss) Earnings per ordinary share                
    Basic and diluted   $ (0.055 )   $ 0.003  
                     
    Weighted average number of ordinary shares outstanding*                
    Basic and diluted     9,150,000       8,000,000  
                     

    The MIL Network –

  • MIL-OSI Submissions: Australia – SA Premier features in book of migrant stories – AMES

    Source: AMES

    South Australian Premier Peter Malinauskas features in new book that tells the stories of second-generation migrant Australians.

    Titled ‘At the Heart of Identity’, the book is a series of reflections from people sharing their families’ settlement journeys and their own search for identity.

    Premier Malinauskas shares his family’s post war journey to Australia and his own childhood growing up in a migrant community.

    He tells in the book how his family came to Australia in 1949 escaping war-torn Europe.

    “At some point in the late 1930s in regional Hungary a 20-year-old widowed mother named Eta was left little choice but to temporarily leave her daughter with extended family while she sought work at a nearby town. It was a fateful moment. As World War II mercilessly engulfed Europe, Eta quickly found herself caught in the web of the war,” Premier Malinauskas says.

    “Moved from camp to camp as forced labour for the Nazis, no parent could bear to imagine the pain, frustration and sense of desperation that Eta must have felt as every avenue to get back to her daughter was closed. Despite multiple efforts to return to Hungary, by the war’s end Eta had been stuck in a German munitions factory.

    “As the Nazi regime collapsed and Eta closed that chapter of her life, her ambition for reunification with her daughter was again thwarted, this time by another peril in the form of communism. Having had her sole possession, a single bike, confiscated by the Russians at a key roadblock, Eta was again turned around and sent back to Germany,” he says.

    Premier Malinauskas tells how his grandparents met after separately coming to Australia as refugees from the aftermath of WWII.

    “When my grandparents got married, they bought a block of land on Trimmer Parade, Seaton, where they built their home and, for many years, operated a fish and chip shop. I distinctly remember as a young boy standing at that fish and chip shop my grandfather built with his own bare hands as he told me about the importance of taking opportunities,” he says.

    I distinctly remember as a young boy standing at that fish and chip shop my grandfather built with his own bare hands as he told me about the importance of taking opportunities. He was always talking about opportunity – every opportunity you’ve got to grab.

    “An equally clear memory is of the time I inquired about him becoming an Australian citizen and grandpa quickly rushing off to retrieve his naturalisation certificate. I cannot picture the certificate, but I can still feel the depth of meaning it had to him as a symbol of the opportunity this nation and this state had afforded Eta and himself.

     

    “The desire of my grandparents, including Bob and Ursula May from my mum’s side, to seek, seize and share opportunity, even in the face of real hardship, has undoubtedly influenced my politics,” he says.

    Premier Malinauskas says his family’s story is emblematic of Australia’s migration story.

    “…this is a story about a young state in an even younger nation whose infectious optimism about the future gave it the courage to be open to new people looking for one thing above all else: opportunity, the same sort of opportunity our first re-settlers sought 112 years earlier and the exact same sort of opportunity new arrivals to our shores seek today,” he says.

    Other contributors to the book are: former Socceroo Archie Thompson, who has a New Zealand-born father and mother from Papua New Guinea; federal MP Cassandra Fernando, whose parents are from Sri Lanka; leading contemporary artist Saidin Salkic; and architect Maru Jarockyj, whose parent were born in Ukraine.

    Launched at Parliament House, in Canberra this week, as part of migrant and refugee settlement agency AMES Australia’s annual ‘Heartlands’ cultural project, the book is a reflection of Australia’s long and diverse history as a nation of migrants.

    AMES CEO Cath Scarth said the book was timely at a point in history when polarisation and divisiveness are on the rise across the globe.

    “Stories of settlement in Australia, no matter where you have come from, are things that unite us,” Ms Scarth said.

    “These stories are reflection of how migrants have helped to build Australia and helped to create the successful brand of multiculturalism we enjoy along with the high levels of social cohesion that we have built,” she said.

    MIL OSI – Submitted News –

  • MIL-OSI USA: Cantwell Hits Trump’s Trade Policy on CNBC: “It Almost Seems Like A Tariff Tantrum”

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    02.13.25
    Cantwell Hits Trump’s Trade Policy on CNBC: “It Almost Seems Like A Tariff Tantrum”
    WA depends on steel & aluminum imports; last year, the state imported $1.2B worth of steel & aluminum for aerospace, shipbuilding, electronics & more; Last round of Trump trade wars nearly decimated WA’s apple export market to India; Cantwell helped negotiate end to retaliatory tariffs in 2023 & restore the market
    WASHINGTON, D.C. – This morning, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and a senior member of the Senate Committee on Finance, appeared on CNBC’s Squawk Box to push back against President Trump’s aggressive use of tariffs, even against the United States’ closest allies, instead of focusing on opening up export markets and lowering costs for American consumers.
    “This is the fourth week of the Trump Administration, and I would hope that we would have been hearing about how we’re lowering costs on housing, food prices, and drugs. And instead, we’re now in – it almost seems like a tariff tantrum, like we’re just going to tariff everything. And what I would like to see is an engagement by both Democrats and Republicans pushing back on this notion that a ‘tariff everything’ strategy is the way to get out of this situation,” Sen. Cantwell told Squawk Box’s Andrew Ross Sorkin.
    “I’ve been critical of Obama’s tariffs. I’ve been critical of Biden’s tariffs. What I want people to understand is we live in a world, now, where alliances and dealing with these issues on a coalition basis will get us further, because 95% of consumers are outside the United States,” she continued.
    “In the last Trump administration, he did the same thing [… he] cut hundreds of apple jobs in my state that never recovered. But it decimated a $120 million market, and then, basically, because of the retaliatory tariffs, we were without an apple market to India. I worked in the Biden administration to get that restored. So, what people don’t understand is, in this environment, you don’t just lose farmland — because actually, Bill Gates or somebody will buy it — you’re losing farmers. And right now, the world, we should be opening up markets. We should be opening up agriculture opportunities around the globe.”
    Her full appearance on Squawk Box can be viewed HERE; a transcript of the interview is HERE.
    In Washington state, two out of every five jobs are tied to trade and trade-related industries.  Combined, the state imported $1.21 billion worth of steel and aluminum last year – and the major industries and employers in Washington that rely on steel and aluminum include aerospace, shipbuilding, utilities, and electronics.
    When President Trump imposed steel tariffs in 2018, our trading partners immediately responded by imposing tariffs of their own on Washington products, especially agriculture, including cherries, apples, pears, and potatoes. Nationally, across all industries, the steel and aluminum tariffs resulted in a decrease in production worth about $3.4 billion per year, according to an ITC report.  
    Sen. Cantwell has remained a steadfast supporter of free trade to grow the economy in the State of Washington and nationwide. Sen. Cantwell was the leading voice in negotiations to end India’s 20% retaliatory tariff on American apples, which was imposed in response to tariffs on steel and aluminum and devastated Washington state’s apple exports. India had once been the second-largest export market for American apples, but after President Trump imposed tariffs on steel and aluminum in his first term, India imposed retaliatory tariffs in response and U.S. apple exports plummeted. The impact on Washington apple growers was severe: Apple exports from the state dropped from $120 million in 2017 to less than $1 million by 2023.  In September 2023, following several years of Sen. Cantwell’s advocacy, India ended its retaliatory tariffs on apples and pulse crops which was welcome news to the state’s more than 1,400 apple growers and the 68,000-plus workers they support.
    Last week, Sen. Cantwell also delivered a major speech on the Senate floor arguing that the president’s arbitrary tariffs would threaten domestic job creation and economic growth in an Information Age. She outlined a strategy focused on building coalitions, growing exports, and establishing principles to support innovation in the Information Age.
    Sen. Cantwell also voted against advancing the nomination of Howard Lutnick, President Trump’s choice to be Secretary of the Department of Commerce, citing concerns with Lutnick’s support for Trump’s proposed tariffs. More information on how President Trump’s proposed tariffs on goods from Mexico, Canada, and China would affect consumers and businesses in the State of Washington can be found HERE.
    In May 2023, Sen. Cantwell sent a letter urging the Biden Administration to help U.S. potato growers finally get approval to sell fresh potatoes in Japan. In June 2023, Sen. Cantwell hosted U.S. Sen. Debbie Stabenow (D-MI), then-chair of the Committee on Agriculture, Nutrition, and Forestry, in Washington state for a forum with 30 local agricultural leaders in Wenatchee to discuss the Farm Bill.
    In 2022, Sen. Cantwell spearheaded passage of the Ocean Shipping Reform Act, a law to crack down on skyrocketing international ocean shipping costs and ease supply chain backlogs that raise prices for consumers and make it harder for U.S. farmers and exporters to get their goods to the global market.
    In August 2020, during the height of the COVID-19 pandemic, Sen. Cantwell sent a letter to then-Secretary of Agriculture Sonny Perdue requesting aid funds be distributed to wheat growers. In December 2018, Sen. Cantwell celebrated the passage of the Farm Bill, which included $500 million of assistance for farmers, including those who grow wheat.
    In 2019, Sen. Cantwell helped secure a provision in the $16 billion USDA relief package, ensuring sweet cherry growers could access emergency funding to offset the impacts of tariffs and other market disruptions.

    MIL OSI USA News –

  • MIL-OSI USA: Sullivan Legislation Strengthens U.S./Israel Alliance, Reinstates “Peace Through Strength” Policies in the Middle East

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan
    02.13.25
    WASHINGTON—U.S. Senator Dan Sullivan (R-Alaska), a member of the Senate Armed Services Committee (SASC), introduced a package of three bills focused on promoting stability and security in the Middle East: the Enhanced Iran Sanctions Act, the United States-Israel Defense Partnership Act of 2025, and the Stop the ICC. These bills work to strengthen the U.S.-Israel military alliance, bolster the U.S. sanctions regime against Iran—the architect of chaos in the Middle East—and prohibit U.S. funding of or cooperation with the antisemitic International Criminal Court (ICC). Much of Sullivan’s Enhanced Iran Sanctions Act dovetails with President Trump’s recent executive orders on Iran and Israel.
    “Taken together, this suite of bills sends a clear message that the United States stands firmly with Israel,” said Senator Sullivan. “The Biden administration refused to enforce the comprehensive Iran sanctions that President Trump enacted during his first term. As a result, Iran was given more than $70 billion and used this windfall to spread terror across the Middle East and in Israel. Congress needs to send a clear message that this must stop. Further, to better protect our interests at home and strengthen our alliance with Israel, we must strengthen the U.S.-Israel security partnership and stand with Israel against antisemitic institutions that threaten the existence of our closest ally in the Middle East. It’s time to return to ‘peace through strength’ in the Middle East and stand stronger than ever against the Iranian regime and its terrorist proxies that are threatening Israel and American interests throughout the region.” 
    See below for summaries of Senator Sullivan’s legislation.
    Enhanced Iran Sanctions Act
    This legislation supports the return to a maximum pressure posture toward Iran by strengthening the U.S. sanctions regime against Iran by filling the gaps on existing sanctions legislation and mandating rigorous enforcement of sanctions. Specifically, the legislation expands the range of sanctions to encompass the full logistical chain of Iranian energy exports, it creates an interagency task force to constantly track Iranian illicit activities, and it sunsets the timeline to issue sanctions waivers. It also includes provisions to encourage a new multilateral contact group with like-minded nations to coordinate international sanctions enforcement efforts.
    Specifically, the bill takes several important measures:
    Imposes secondary sanctions on the entire logistical chain of foreign entities supporting Iran’s illicit oil sales, including Chinese banks, maritime insurance providers, and flagging registries, as well as the executive-level leadership in those corporations and their immediate family members. It also imposes sanctions on family members of individuals in Iran sanctioned for terrorism, ballistic missile production, or weapons of mass destruction (WMD) facilities.
    Creates an interagency Iran sanctions working group tasked with constantly tracking illicit transfers of Iranian oil, gas, and related products, with a periodic reporting plan to outline efforts to keep abreast of the evolving sanctions-evasion efforts, and identify new sanctions designations packages.
    Creates a multilateral contact group for harmonizing and enforcing international sanctions on Iran.
    Directs the provision of a private sector reporting mechanism, which financially incentivizes private sector counterparts to share information about illicit Iranian transfer operations.
    Initiates a periodic (180-day) review by the President to justify maintaining existing waivers on eligible nations’ purchase of Iranian oil, accompanied by a detailed, credible plan to phase out the need for waivers for each applicable country. This would include sunset waiver authority on Iran sanctions, following a periodic congressional review.
    Sunsets the presidential sanctions waiver authority in February 1, 2029.
    This legislation is cosponsored by Senators Richard Blumenthal (D-Conn.), John Cornyn (R-Texas), and Pete Ricketts (R-Neb.).
    The United States-Israel Defense Partnership Act of 2025
    This bill strengthens the U.S.-Israel security partnership by extending and expanding existing bilateral security initiatives. It also establishes new cooperative programs, including a broader initiative on unmanned systems, establishing a Defense Innovation Unit in Israel, and advocating for consideration of Israel’s inclusion in the National Technology Industrial Base (NTIB). Finally, it calls for greater cooperation between Israel and regional countries in advancing work on Integrated Air and Missile Defense.
    Specifically, this bill takes several important measures:
    Establishes a program between the United States and Israel on Countering Unmanned Systems (C-UxS). This entails a program of cooperation to develop, test, and deploy advanced C-UxS technologies to address threats posed by UAS, funded at $150 million per year.
    Extension and expansion of the U.S.-Israel Counter-UAS Cooperative Program. This would increase funding for the current initiative from $55 million to $75 million annually.
    Extension and expansion of the United States-Israel Anti-Tunneling Cooperative Program. Extends the authorization of the U.S.-Israel Anti-Tunneling Cooperative Program to Dec 31, 2028 and increases the authorization to $80 million per year.
    Authorizes cooperation between the United States and Israel on emerging defense technologies for 5 years (United States-Israel Future of Warfare Act).  Provides $47.5 million a year to encourage further defense collaboration with Israel in areas of emerging technologies, including autonomous systems, artificial intelligence, cybersecurity, quantum, and biotechnology.
    Reauthorizes the War Reserves Stockpile Authority – Israel (WRSA-I); extends the authorization of WRSA-I, which expires at the end of 2026, through January 1, 2029.
    Establishes a Defense Innovation Unit (DIU) office in Israel. A DIU office in Israel will work with the Israeli Minister of Defense and private sector to counter Iran’s development of dual-use defense technologies.
    Israel-National Technology Industrial Base (NTIB) Engagement. This requires the Secretary of Defense to engage with his or her Israeli counterpart to initiate a discussion on the process of Israeli ascension into NTIB. 
    Integrated Air and Missile Defense (IAMD). This requires the Secretary of Defense to provide a report on strengthening IAMD in the Middle East.
    This legislation is cosponsored by Senators Gary Peters (D-Mich.), Richard Blumenthal (D-Conn.), Pete Ricketts (R-Neb.), and Jacky Rosen (D-Nev.).
    Stop the ICC Act
    This bill prohibits funding for and cooperation with the International Criminal Court (ICC), based on its antisemitic efforts to prosecute top Israeli officials and create a false equivalence between Israel and Hamas, a terrorist organization. It also prohibits U.S. economic support for the Palestinian Authority (PA) based on its cooperation with the ICC’s investigations against Israeli officials. Specifically, it instructs the President to freeze property assets and deny visas to any foreigners who materially or financially contributed to the ICC’s efforts to “investigate, arrest, detain or prosecute a protected person.” Protected persons are defined as all current and former military and government officials of the U.S. and allies that have not consented to the court’s jurisdiction, such as Israel.  The legislation covers the 32-member NATO and the 19 major non-NATO countries, which include Israel, Japan, Taiwan, Australia, South Korea, the Philippines, and Egypt. It would also rescind any funds the U.S. has designated for the ICC and prohibit any future money for the court.
    Background:  In May 2024, ICC Prosecutor Karim Khan announced that he was seeking warrants for Israeli Prime Minister Netanyahu and then-Defense Minister Yoav Gallant, as well as Hamas leadership. In November 2024, the court issued warrants for Mr. Netanyahu, Mr. Gallant and Hamas leaders for war crimes and crimes against humanity.
    This legislation is cosponsored by Senator Tom Cotton (R-Ark.).

    MIL OSI USA News –

  • MIL-OSI New Zealand: SH1 Greenlane Interchange closed to southbound traffic

    Source: New Zealand Transport Agency

    |

    NZ Transport Agency Waka Kotahi (NZTA) advises all southbound lanes on State Highway 1 at the Greenlane Interchange are closed due to a serious crash.

    Motorists are asked to delay their journeys, where possible, consider alternate routes and expect delays and diversions. Traffic is heavy around the Greenlane Interchange and NZ Police expect the closure to be in place for at least two hours, while the Serious Crash Unit investigates.

    Auckland through-traffic should use the Western Ring Route to travel south, from SH1 to State Highway 18 at Albany, left to State Highway 16 through Westgate and right to the State Highway 20 Southbound Waterview Tunnel to continue south from the SH1/SH20 link in Manukau.

    The Greenlane southbound on-ramp remains open, as do all northbound lanes.

    People are encouraged to visit the Journey Planner website (journeys.nzta.govt.nz(external link)) for up to date information on the closure and detour route before they travel.

    NZTA thanks everyone for their patience.

    Tags

    MIL OSI New Zealand News –

  • MIL-OSI: Diginex announces new AI functionality after winning Government recognition for AI-powered compliance innovation

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, Feb. 13, 2025 (GLOBE NEWSWIRE) — Diginex Limited (“Diginex Limited” or the “Company”), a Cayman Islands-based impact technology company specializing in environmental, social, and governance (ESG) issues, today announced the development of new AI functionality which is expected to be built leveraging OpenAI’s platform. The Company anticipates that the deployment of this AI feature will contribute to revenue growth starting in 2025 by enhancing diginexESG‘s value proposition and driving increased customer adoption. The initial focus will be on helping companies comply with sustainability disclosure requirements set by the International Sustainability Standards Board (ISSB) and International Financial Reporting Standards (IFRS), which are increasingly being mandated for companies involved in global ESG reporting. These features will provide rapid data extraction, improved compliance, and enhanced risk assessment for users of the Company’s ESG SaaS reporting product, diginexESG.

    This AI functionality positions diginexESG to capture the growing demand for ESG reporting solutions – a market projected to reach between USD 1.5 billion and USD 4.35 billion by 2027, with an expected CAGR of 15.9% to 30% according to industry research from Verdantix – and is alongside the Company’s recent selection by the Financial Services and the Treasury Bureau (FSTB) of Hong Kong for the Green and Sustainable Fintech PoC program. The FSTB, which oversees financial and treasury policy for the Hong Kong SAR Government, launched this program to support innovative green fintech solutions with measurable environmental and financial impact. This builds on previous recognition where, in December 2023, the Hong Kong Monetary Authority, named Diginex as winner of the “Sustainability or Climate-related Disclosure and Reporting” category.

    The FSTB launched this program to accelerate the development and commercial adoption of green fintech solutions by technology firms and research institutions. “We are thrilled to receive this endorsement and support from FSTB, which underscores the importance of AI technology in addressing significant challenges within the ESG and sustainability industry,” said Mark Blick, Chief Executive Officer of Diginex Limited. “We will be accelerating our efforts to deliver innovative AI-powered functionality that will support companies with their ESG, Climate and Supply Chain data collection and reporting while improving efficiency and customer experience. We plan to collaborate closely with leading global financial institutions to introduce this new feature to their clients.”

    About Diginex Limited

    Diginex Limited is a Cayman Islands exempted company incorporated under the laws of the Cayman Islands in 2024, with subsidiaries located in Hong Kong, United Kingdom and United States of America. Diginex Limited conducts operations through its wholly owned subsidiary Diginex Solutions (HK) Limited, a Hong Kong corporation (“DSL”) and DSL is the sole owner of (i) Diginex Services Limited, a corporation formed in the United Kingdom and (ii) Diginex USA LLC, a limited liability company formed in the State of Delaware. DSL commenced operations in 2020, is headquartered in Hong Kong, and is a software company that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. DSL is an impact technology business that helps organizations to address the some of the most pressing ESG, climate and sustainability issues, utilizing blockchain, machine learning and data analysis technology to lead change and increase transparency in corporate social responsibility and climate action.

    Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. For more information, please visit the Company’s website: https://www.diginex.com/.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements, including, but not limited to, statements concerning the Company’s product offerings, business strategy, projections and future growth. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Company’s business strategy will be successful. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

    For investor and media inquiries, please contact:

    Diginex
    Investor Relations
    Email:ir@diginex.com

    Jackson Lin
    Lambert by LLYC
    Phone: +1 (646) 717-4593
    Email: jian.lin@llyc.global

    The MIL Network –

  • MIL-OSI: Applied Materials Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    • Revenue $7.17 billion, up 7 percent year over year
    • GAAP gross margin 48.8 percent and non-GAAP gross margin 48.9 percent
    • GAAP operating margin 30.4 percent and non-GAAP operating margin 30.6 percent
    • GAAP EPS $1.45 and non-GAAP EPS $2.38, down 40 percent and up 12 percent year over year, respectively
    • Generated $925 million in cash from operations and distributed $1.64 billion to shareholders including $1.32 billion in share repurchases and $326 million in dividends

    SANTA CLARA, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) — Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its first quarter ended Jan. 26, 2025.

    “The industry drive to accelerate the development of advanced compute and more sophisticated AI is gaining momentum,” said Gary Dickerson, President and CEO. “Applied Materials is enabling the major device architecture inflections critical for energy-efficient AI and our focus on high-velocity co-innovation creates unique collaboration opportunities with our customers and partners, positioning Applied for continued growth and outperformance in the years to come.”

    “We delivered strong financial performance in the first fiscal quarter, with record revenue, gross margin expansion and robust shareholder distributions,” said Brice Hill, Senior Vice President and CFO. “ For the second fiscal quarter, we are encouraged by the trends supporting continued customer investments to enable leading-edge technology inflections, while also taking into account export control related headwinds.”

    Results Summary

      Q1 FY2025   Q1 FY2024   Change
      (In millions, except per share amounts and percentages)
    Net revenue $ 7,166     $ 6,707     7%
    Gross margin   48.8 %     47.8 %   1.0 point
    Operating margin   30.4 %     29.3 %   1.1 points
    Net income $ 1,185     $ 2,019     (41)%
    Diluted earnings per share $ 1.45     $ 2.41     (40)%
    Non-GAAP Results          
    Non-GAAP gross margin   48.9 %     47.9 %   1.0 point
    Non-GAAP operating margin   30.6 %     29.5 %   1.1 points
    Non-GAAP net income $ 1,946     $ 1,782     9%
    Non-GAAP diluted EPS $ 2.38     $ 2.13     12%
    Non-GAAP free cash flow $ 544     $ 2,096     (74)%
                       

    A reconciliation of the GAAP and non-GAAP results is provided in the financial tables included in this release. See also “Use of Non-GAAP Financial Measures” section.

    Impact of Singapore Tax Incentives

    As a result of new tax incentive agreements in Singapore in fiscal 2025, the company recorded a $644 million, or $0.79 per diluted share, income tax expense due to the remeasurement of deferred tax assets in Singapore.

    Business Outlook

    Applied’s total net revenue, non-GAAP gross margin and non-GAAP diluted EPS for the second quarter of fiscal 2025, including the estimated impact of recently announced U.S. export regulations, are expected to be approximately as follows:

      Q2 FY2025
    (In millions, except percentage and per share amounts)  
    Total net revenue $ 7,100   +/- $ 400  
    Non-GAAP gross margin   48.4 %    
    Non-GAAP diluted EPS $ 2.30   +/- $ 0.18  
                   

    This outlook for non-GAAP diluted EPS excludes known charges related to completed acquisitions of $0.01 per share and a gain on asset sale of $0.05 per share, and includes a net income tax benefit related to intra-entity intangible asset transfers of $0.04 per share, but does not reflect any items that are unknown at this time, such as any additional charges related to acquisitions or other non-operational or unusual items, as well as other tax-related items, which we are not able to predict without unreasonable efforts due to their inherent uncertainty.

    First Quarter Reportable Segment Information

    Semiconductor Systems Q1 FY2025   Q1 FY2024
      (In millions, except percentages)
    Net revenue $ 5,356     $ 4,909  
    Foundry, logic and other   68 %     62 %
    DRAM   28 %     34 %
    Flash memory   4 %     4 %
    Operating income $ 1,986     $ 1,744  
    Operating margin   37.1 %     35.5 %
    Non-GAAP Results    
    Non-GAAP operating income $ 1,998     $ 1,754  
    Non-GAAP operating margin   37.3 %     35.7 %
    Applied Global Services Q1 FY2025   Q1 FY2024
      (In millions, except percentages)
    Net revenue $ 1,594     $ 1,476  
    Operating income $ 447     $ 417  
    Operating margin   28.0 %     28.3 %
    Non-GAAP Results    
    Non-GAAP operating income $ 447     $ 417  
    Non-GAAP operating margin   28.0 %     28.3 %
    Display Q1 FY2025   Q1 FY2024
      (In millions, except percentages)
    Net revenue $ 183     $ 244  
    Operating income $ 14     $ 25  
    Operating margin   7.7 %     10.2 %
    Non-GAAP Results    
    Non-GAAP operating income $ 14     $ 25  
    Non-GAAP operating margin   7.7 %     10.2 %
    Corporate and Other Q1 FY2025   Q1 FY2024
      (In millions)
    Unallocated net revenue $ 33     $ 78  
    Unallocated cost of products sold and expenses   (305 )     (297 )
    Total $ (272 )   $ (219 )
                   

    Use of Non-GAAP Financial Measures

    Applied provides investors with certain non-GAAP financial measures, which are adjusted for the impact of certain costs, expenses, gains and losses, including certain items related to mergers and acquisitions; restructuring and severance charges and any associated adjustments; impairments of assets; gain or loss, dividends and impairments on strategic investments; certain income tax items and other discrete adjustments. On a non-GAAP basis, the tax effect related to share-based compensation is recognized ratably over the fiscal year. Reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are provided in the financial tables included in this release.

    Management uses these non-GAAP financial measures to evaluate the company’s operating and financial performance and for planning purposes, and as performance measures in its executive compensation program. Applied believes these measures enhance an overall understanding of its performance and investors’ ability to review the company’s business from the same perspective as the company’s management, and facilitate comparisons of this period’s results with prior periods on a consistent basis by excluding items that management does not believe are indicative of Applied’s ongoing operating performance. There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles, may be different from non-GAAP financial measures used by other companies, and may exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP.

    Webcast Information

    Applied Materials will discuss these results during an earnings call that begins at 1:30 p.m. Pacific Time today. A live webcast and related slide presentation will be available at https://ir.appliedmaterials.com. A replay will be available on the website beginning at 5:00 p.m. Pacific Time today.

    Forward-Looking Statements
    This press release contains forward-looking statements, including those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, technology transitions, our business and financial performance and market share positions, our capital allocation and cash deployment strategies, our investment and growth strategies, our development of new products and technologies, our business outlook for the second quarter of fiscal 2025 and beyond, and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: the level of demand for our products; global economic, political and industry conditions, including changes in interest rates and prices for goods and services; the implementation of additional export regulations and license requirements and their interpretation, and their impact on our ability to export products and provide services to customers and on our results of operations; global trade issues and changes in trade and export license policies and our ability to obtain licenses or authorizations on a timely basis, if at all; imposition of new or increases in tariffs and any retaliatory measures; the effects of geopolitical turmoil or conflicts; demand for semiconductor chips and electronic devices; customers’ technology and capacity requirements; the introduction of new and innovative technologies, and the timing of technology transitions; our ability to develop, deliver and support new products and technologies; our ability to meet customer demand, and our suppliers’ ability to meet our demand requirements; the concentrated nature of our customer base; our ability to expand our current markets, increase market share and develop new markets; market acceptance of existing and newly developed products; our ability to obtain and protect intellectual property rights in key technologies; cybersecurity incidents affecting our information systems or information contained in them, or affecting our operations, suppliers, customers or vendors; our ability to achieve the objectives of operational and strategic initiatives, align our resources and cost structure with business conditions, and attract, motivate and retain key employees; the effects of regional or global health epidemics; acquisitions, investments and divestitures; changes in income tax laws; the variability of operating expenses and results among products and segments, and our ability to accurately forecast future results, market conditions, customer requirements and business needs; our ability to ensure compliance with applicable law, rules and regulations and other risks and uncertainties described in our SEC filings, including our recent Forms 10-K and 8-K. All forward-looking statements are based on management’s current estimates, projections and assumptions, and we assume no obligation to update them.

    About Applied Materials

    Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.

    Investor Relations Contact:
    Liz Morali (408) 986-7977
    liz_morali@amat.com 

    Media Contact:
    Ricky Gradwohl (408) 235-4676
    ricky_gradwohl@amat.com 

     
    APPLIED MATERIALS, INC.
    UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
       
      Three Months Ended
    (In millions, except per share amounts) January 26,
    2025    		   January 28,
    2024
    Net revenue $ 7,166     $ 6,707  
    Cost of products sold   3,670       3,503  
    Gross profit   3,496       3,204  
    Operating expenses:      
    Research, development and engineering   859       754  
    Marketing and selling   206       207  
    General and administrative   256       276  
    Total operating expenses   1,321       1,237  
    Income from operations   2,175       1,967  
    Interest expense   64       59  
    Interest and other income (expense), net   8       395  
    Income before income taxes   2,119       2,303  
    Provision for income taxes   934       284  
    Net income $ 1,185     $ 2,019  
    Earnings per share:      
    Basic $ 1.46     $ 2.43  
    Diluted $ 1.45     $ 2.41  
    Weighted average number of shares:      
    Basic   814       831  
    Diluted   819       837  
                   
     
    APPLIED MATERIALS, INC.
    UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS
           
    (In millions) January 26,
    2025    		   October 27,
    2024
    ASSETS      
    Current assets:      
    Cash and cash equivalents $ 6,264     $ 8,022  
    Short-term investments   1,949       1,449  
    Accounts receivable, net   5,998       5,234  
    Inventories   5,501       5,421  
    Other current assets   982       1,094  
    Total current assets   20,694       21,220  
    Long-term investments   2,686       2,787  
    Property, plant and equipment, net   3,563       3,339  
    Goodwill   3,768       3,732  
    Purchased technology and other intangible assets, net   237       249  
    Deferred income taxes and other assets   2,390       3,082  
    Total assets $ 33,338     $ 34,409  
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
    Current liabilities:      
    Short-term debt $ 799     $ 799  
    Accounts payable and accrued expenses   4,485       4,820  
    Contract liabilities   2,452       2,849  
    Total current liabilities   7,736       8,468  
    Long-term debt   5,461       5,460  
    Income taxes payable   684       670  
    Other liabilities   832       810  
    Total liabilities   14,713       15,408  
    Total stockholders’ equity   18,625       19,001  
    Total liabilities and stockholders’ equity $ 33,338     $ 34,409  
                   
     
    APPLIED MATERIALS, INC.
    UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
       
      Three Months Ended
    (In millions) January 26,
    2025    		   January 28,
    2024
    Cash flows from operating activities:      
    Net income $ 1,185     $ 2,019  
    Adjustments required to reconcile net income to cash provided by operating activities:      
    Depreciation and amortization   105       91  
    Share-based compensation   195       170  
    Deferred income taxes   668       (72 )
    Other   95       (235 )
    Net change in operating assets and liabilities   (1,323 )     352  
    Cash provided by operating activities   925       2,325  
    Cash flows from investing activities:      
    Capital expenditures   (381 )     (229 )
    Cash paid for acquisitions, net of cash acquired   (28 )     —  
    Proceeds from sales and maturities of investments   1,223       531  
    Purchases of investments   (1,711 )     (749 )
    Cash used in investing activities   (897 )     (447 )
    Cash flows from financing activities:      
    Proceeds from issuance of commercial paper   200       100  
    Repayments of commercial paper   (200 )     (100 )
    Common stock repurchases   (1,318 )     (700 )
    Tax withholding payments for vested equity awards   (142 )     (192 )
    Payments of dividends to stockholders   (326 )     (266 )
    Repayments of principal on finance leases   —       1  
    Cash used in financing activities   (1,786 )     (1,157 )
    Increase (decrease) in cash, cash equivalents and restricted cash equivalents   (1,758 )     721  
    Cash, cash equivalents and restricted cash equivalents—beginning of period   8,113       6,233  
    Cash, cash equivalents and restricted cash equivalents — end of period $ 6,355     $ 6,954  
           
    Reconciliation of cash, cash equivalents, and restricted cash equivalents      
    Cash and cash equivalents $ 6,264     $ 6,854  
    Restricted cash equivalents included in deferred income taxes and other assets   91       100  
    Total cash, cash equivalents, and restricted cash equivalents $ 6,355     $ 6,954  
           
    Supplemental cash flow information:      
    Cash payments for income taxes $ 70     $ 139  
    Cash refunds from income taxes $ 70     $ 2  
    Cash payments for interest $ 52     $ 34  
                   

    Additional Information

      Q1 FY2025   Q1 FY2024
    Net Revenue by Geography (In millions)  
    United States $ 917     $ 759  
    % of Total   13 %     11 %
    Europe $ 330     $ 410  
    % of Total   4 %     6 %
    Japan $ 540     $ 565  
    % of Total   8 %     9 %
    Korea $ 1,667     $ 1,231  
    % of Total   23 %     18 %
    Taiwan $ 1,183     $ 559  
    % of Total   17 %     8 %
    Southeast Asia $ 286     $ 186  
    % of Total   4 %     3 %
    China $ 2,243     $ 2,997  
    % of Total   31 %     45 %
           
    Employees(In thousands)      
    Regular Full Time   36.0       34.5  
                   
     
    APPLIED MATERIALS, INC.
    UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP RESULTS
       
      Three Months Ended
    (In millions, except percentages) January 26,
    2025    		   January 28,
    2024
    Non-GAAP Gross Profit      
    GAAP reported gross profit $ 3,496     $ 3,204  
    Certain items associated with acquisitions1   7       7  
    Non-GAAP gross profit $ 3,503     $ 3,211  
    Non-GAAP gross margin   48.9 %     47.9 %
    Non-GAAP Operating Income      
    GAAP reported operating income $ 2,175     $ 1,967  
    Certain items associated with acquisitions1   12       11  
    Acquisition integration and deal costs   3       3  
    Non-GAAP operating income $ 2,190     $ 1,981  
    Non-GAAP operating margin   30.6 %     29.5 %
    Non-GAAP Net Income      
    GAAP reported net income $ 1,185     $ 2,019  
    Certain items associated with acquisitions1   12       11  
    Acquisition integration and deal costs   3       3  
    Realized loss (gain), dividends and impairments on strategic investments, net   (9 )     (1 )
    Unrealized loss (gain) on strategic investments, net   106       (280 )
    Income tax effect of share-based compensation2   (10 )     (26 )
    Income tax effects related to intra-entity intangible asset transfers3   674       22  
    Resolution of prior years’ income tax filings and other tax items   (16 )     33  
    Income tax effect of non-GAAP adjustments4   1       1  
    Non-GAAP net income $ 1,946     $ 1,782  
    1 These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets.
       
    2 GAAP basis tax benefit related to share-based compensation is recognized ratably over the fiscal year on a non-GAAP basis.
       
    3 Amount for the three months ended January 26, 2025, included changes to income tax provision of $30 million from amortization of intangibles and a $644 million remeasurement of deferred tax assets resulting from new tax incentive agreements in Singapore in fiscal 2025.
       
    4 Adjustment to provision for income taxes related to non-GAAP adjustments reflected in income before income taxes.
       
     
    APPLIED MATERIALS, INC.
    UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP RESULTS
       
      Three Months Ended
    (In millions, except per share amounts) January 26,
    2025    		   January 28,
    2024
    Non-GAAP Earnings Per Diluted Share      
    GAAP reported earnings per diluted share $ 1.45     $ 2.41  
    Certain items associated with acquisitions   0.01       0.01  
    Realized loss (gain), dividends and impairments on strategic investments, net   (0.01 )     —  
    Unrealized loss (gain) on strategic investments, net   0.13       (0.33 )
    Income tax effect of share-based compensation   (0.01 )     (0.03 )
    Income tax effects related to intra-entity intangible asset transfers1   0.83       0.03  
    Resolution of prior years’ income tax filings and other tax items   (0.02 )     0.04  
    Non-GAAP earnings per diluted share $ 2.38     $ 2.13  
    Weighted average number of diluted shares   819       837  
    1 Amount for the three months ended January 26, 2025, included changes to income tax provision of $0.04 per diluted share from amortization of intangibles and $0.79 per diluted share from a remeasurement of deferred tax assets resulting from new tax incentive agreements in Singapore in fiscal 2025.
       
     
    APPLIED MATERIALS, INC.
    UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP RESULTS
       
      Three Months Ended
    (In millions, except percentages) January 26,
    2025    		   January 28,
    2024
    Semiconductor Systems Non-GAAP Operating Income      
    GAAP reported operating income $ 1,986     $ 1,744  
    Certain items associated with acquisitions1   12       10  
    Non-GAAP operating income $ 1,998     $ 1,754  
    Non-GAAP operating margin   37.3 %     35.7 %
    Applied Global Services Non-GAAP Operating Income      
    GAAP reported operating income $ 447     $ 417  
    Non-GAAP operating income $ 447     $ 417  
    Non-GAAP operating margin   28.0 %     28.3 %
    Display Non-GAAP Operating Income      
    GAAP reported operating income $ 14     $ 25  
    Non-GAAP operating income $ 14     $ 25  
    Non-GAAP operating margin   7.7 %     10.2 %
    1  These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets.
       

    Note: The reconciliation of GAAP and non-GAAP segment results above does not include certain revenues, costs of products sold and operating expenses that are reported within corporate and other and included in consolidated operating income.

     
    APPLIED MATERIALS, INC.
    UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP EFFECTIVE INCOME TAX RATE
       
      Three Months Ended
    (In millions, except percentages) January 26, 2025
       
    GAAP provision for income taxes (a) $ 934  
    Income tax effect of share-based compensation   10  
    Income tax effects related to intra-entity intangible asset transfers   (674 )
    Resolutions of prior years’ income tax filings and other tax items   16  
    Income tax effect of non-GAAP adjustments   (1 )
    Non-GAAP provision for income taxes (b) $ 285  
       
    GAAP income before income taxes (c) $ 2,119  
    Certain items associated with acquisitions   12  
    Acquisition integration and deal costs   3  
    Realized loss (gain), dividends and impairments on strategic investments, net   (9 )
    Unrealized loss (gain) on strategic investments, net   106  
    Non-GAAP income before income taxes (d) $ 2,231  
       
    GAAP effective income tax rate (a/c)   44.1 %
       
    Non-GAAP effective income tax rate (b/d)   12.8 %
           
     
    UNAUDITED RECONCILIATION OF NON-GAAP FREE CASH FLOW
       
      Three Months Ended
    (In millions) January 26,
    2025    		   January 28,
    2024
    Cash provided by operating activities $ 925     $ 2,325  
    Capital expenditures   (381 )     (229 )
    Non-GAAP free cash flow $ 544     $ 2,096  
                   

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